Ammon News - The government debt as of the end of October 2022, excluding what is held by the Social Security Corporation, amounted to USD30 billion, 88.1 per cent of GDP compared to USD28.7 billion in 2021, 88.6 per cent of GDP.

According to the monthly financial bulletin, local revenues during the first ten months of 2022 amounted to JOD6.6 billion, a JOD529 million increase over 2021.

The increase was due to the growth in tax revenue by about JOD358.7 million in 2022 and the increase in non-tax revenues by JOD170.9 million compared to the same period in 2021.

The increase in tax revenues is attributed to the rise in the general tax on goods and services by about JOD107.3 million to reach a value of JOD3.4 billion dinars during the first ten months of 2022; the increase in income and profit tax collections by an amount of JOD308.3 million dinars to a reach a value of JOD1.4 billion during the first ten months of 2022.

Public expenditures increased by JOD580.7 million during the first ten months of 2022 compared to 202, reaching a value of JOD8.5 billion.

This increase is due to the rise in spending on social protection, by about JOD119.4 million compared to the same period in 2021 and the increase in the volume of capital expenditure by JOD401.3 million.