Cabinet approves 2014 Budget
Jordan’s Cabinet has approved the 2014 State Budget which anticipates GDP growth of 3.5%, up from 3.3% in 2013. Spending will increase by around 12.8% and the deficit will be around JD1.1 billion.
Public revenues before foreign support income are estimated at JD5.831 (£5.12 billion; $8.22 billion) compared with JD5.226 in 2013. Finance Minister Umayyah Toukan has indicated that foreign assistance is expected to increase by 17.3% (JD169 million) to JD1.151 billion.
Inflation in the country is expected to drop to 4.2% from 5.9% in 2013.
Capital expenditure for 2014 is expected to be JD1.270 billion and that JD648 million (53.9%) of capital expenditure would come from the five year $5 billion fund granted to Jordan by the Gulf Cooperation Council (GCC) in 2011.