Jordan: Revenues witness significant $420.4mln increase in Q1 2023

Jordan: Revenues witness significant $420.4mln increase in Q1 2023

AMMAN — Local revenues witnessed a significant increase of JD298.2 million during the first four months of 2023, reaching a total of JD3.036 billion. According to the monthly financial bulletin released on Wednesday, the increase is partially attributed to a rise in tax revenues of approximately JD179.4 million, as well as a surge in non-tax revenues of around JD118.8 million. The primary driver behind the increase in tax revenues was the growth in general income and profit tax collections, amounting to JD217.3 million. This improvement reflects enhanced compliance and adherence by taxpayers in fulfilling their tax obligations, the Jordan News Agency, Petra, reported. Turning to public expenditure, government spending during the January-April period amounted to approximately JD3.314 billion, showing an increase of JD212.6 million compared to the same period of the previous year. This rise was primarily driven by a JD177.6 million increase in current expenditures and an approximately JD34.9 million rise in capital expenditures, according to Petra. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).