Final 2016 Budget Outcomes Indicate Slowdown; Lower Income, Deficit, Growth

تم نشره في Sat 25 March / Mar 2017. 11:07 PM
  • Ministry of Finance Amman - (Archives)

AMMAN —AlGhad— The final 2016 Budget Outcome report shows real growth in GDP has fallen short from the 3 per cent forecast at the beginning of the year, due to a negative variance in public income, caused by economic slowdown.

On the flipside, the official numbers show less spending, as well as a smaller deficit.

According to the Ministry of Finance’s report, actual deficit by end of 2016 stood at JOD878.9 million, JOD27 million lower than the JOD906 million forecast.

Additionally, another positive variance was cited under the expenditure section, from JOD7.948 billion estimated to JOD7.495 billion; approximately 6.4 per cent less than predicted.

Likewise, inbound foreign aid and grants grew by JOD21.9, from an estimate of JOD814 million to JOD835.9 million, as opposed to an 8.6 per cent drop in public domestic income, from JOD6.775 billion to JOD6.234 billion, approximately JOD541.5 million less.

On the other hand, capital expenditure has also fallen short from the estimated forecast of JOD1.31 billion to JOD1.03 billion, approximately JOD281 million less.