Domestic revenues soared by a whopping JD880.3 million in the first nine months of 2021, signaling an 18.8-percent rise from the figure reported in the corresponding period of 2020, according to official figures.

The ministry of finance indicated on Tuesday that the rise in local revenue was primarily driven by higher tax collections which soared by JD531.3 million, while non-tax revenue shot up by JD349 million.

The ministry said the figures reflect a prudent fiscal policy and are consistent with projections set forth in the general budget. The ministry also added that robust anti-tax evasion and avoidance policies contributed to these figures.

Income Tax collections recorded in the nine-month period rose to JD1.037 billion, indicating an increase of 8 percent from the JD961 million recorded in the same period of 2020, the ministry further said.

Nevertheless, public expenditure increased by JD453.3 million, or 6.8 percent, in the January-September period, while the pre-foreign aid budget deficit dropped by a major JD369.1-million to a total of JD958.6 million.

Domestic revenues soared by a whopping JD880.3 million in the first nine months of 2021, signaling an 18.8-percent rise from the figure reported in the corresponding period of 2020, according to official figures.

The ministry of finance indicated on Tuesday that the rise in local revenue was primarily driven by higher tax collections which soared by JD531.3 million, while non-tax revenue shot up by JD349 million.

The ministry said the figures reflect a prudent fiscal policy and are consistent with projections set forth in the general budget. The ministry also added that robust anti-tax evasion and avoidance policies contributed to these figures.

Income Tax collections recorded in the nine-month period rose to JD1.037 billion, indicating an increase of 8 percent from the JD961 million recorded in the same period of 2020, the ministry further said.

Nevertheless, public expenditure increased by JD453.3 million, or 6.8 percent, in the January-September period, while the pre-foreign aid budget deficit dropped by a major JD369.1-million to a total of JD958.6 million.