NO. 2


Financial and Banking News

Budgets and Revenues

Jordan Expects Reduced Budget Deficit in 1990

Jordan's Finance Minister, Mr. Basil Jardaneh, has revealed that next year'sbudget deficit will be cut from the equivalent of 20.2% of GDP to 16.5% ofGDP. The ratio in 1988 was 24% of GDP. The deficit will be cut by setting a ceiling on food subsidies, which cost JD60mn this year, and by raising incometax receipts from JD55mn to JD95mn. There will be a general consumer tax...