Jordan Slashes 2014 Budget Deficit

Jordan cut its deficit (after grants) by 55.6% to JD585.3mn ($825.3mn) for 2014. This equates to 2.3% of GDP, down from 5.5% of GDP (JD1.32bn - $1.86bn) for 2013.

While spending rose by 11% to JD7.85bn, revenue rose by almost 18% to JD6.03bn, the Ministry of Finance says in its latest monthly bulletin. The improved fiscal position for 2014 is in large part thanks to the doubling of grants to JD1.24bn for 2014.

The kingdom, which imports 96% of...