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FinancialNews


  • 09-02-19

    Jordan targets 2.5 percent in 2019 public deficit

    (MENAFN) Jordan was confirmed to be looking to cut its public deficit for this year to hit 2.5 percent as it implemented a number of steps for the target to be realized.

    It comes as the International Monetary Fund (IMF) reached an agreement with Jordan on its policies and reforms this year in taking a slow and steady fiscal approach.

    Both sides also agreed for Jordan to keep on executing its economic reforms with an aim to boost the business environment and job opportunities.

    According to the IMF, "the sustained strong efforts to rein in the combined public deficit, from 3.8 percent of GDP in 2016 to 2.9 percent of GDP in 2017, proved more difficult in 2018, as the combined deficit rose to 4 percent of GDP."

    It added that "to reduce the combined deficit to 2.5 percent of GDP in 2019, the authorities have taken several measures, including the adoption of a new Income Tax Law."

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