Jordan’s 2016 budget, approved in January and published formally as law the following month, shows the country on a steady, inexorable climb toward a debt-to-GDP ratio of over 100%. This year’s budget does next to nothing to reduce a deficit that ballooned to JD 930mn ($1.31bn at the fixed exchange rate of JD1=$1.41) for 2015. For the 2016 budget both spending and revenue are hiked by $1.1bn from 2015, though given that spending is larger, the gains in spending are somewhat lower...
Jordan’s Fiscal Situation Grim, Debt Nears 100% Of GDP
Published on Fri, 25 Mar 2016 - Volume: 59 Issue: 12Print
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