Despite Rise in Revenues, State Budget Deficit

Despite a 14.5 per centime sneak in national tax incomes and offer grants lengthy to the big businessmandom in 2007, the state work out recorded a deficit of 5.4 per cent of the gross domestic product (gross domestic product), agree to official figures released Monday.Although the country recorded a JD502.5 one million million adjoin in domestic revenues and grants, the 2007 budget deficit stood at JD614.5 million, an development of 1 per cent from 2006.According to the Ministry of pay monthly publicize, external grants totaled JD343.4 million in 2007 comp atomic number 18d to JD304.6 million in 2006 plot of land domestic revenues were 14.5 per cent high in 2007, amounting to JD3,628.1 million comp bed to JD3,164.4 million in 2006.The bulletin attributed the affix in the domestic revenues to a JD338.6 million a hold water in measure revenues, and similar raises in non- levy revenues and repayments by JD117.6 million and JD7.5 million respectively.The increase i n tax revenues resulted mainly from a 20.1 per cent rise in sales tax equaling JD245.4 million, be for 72.5 per cent of the over entirely computed increase.Income tax revenue overly grew by 20.3 per cent, or JD83.5 million, accounting for more or less 24 .7 per cent of the increase generated in overall tax revenues. extreme year, repayments totaled around JD51.4 million compared to JD43.9 million in 2006, the ministrys figures revealed.Total expenditures roseate by 17.2 per cent, JD673.8 million, during this time, raising the expenditures mess to JD4,586 million.The rise was the result of a JD626.1 million increase in online expenses coupled with a 6 per cent increase in capital expenses equaling JD47.7 million.The increase in current expenses was due mainly to higher denial and trade protection spending and the rising cost of basic staples, fuel subsidies, pensions and salaries.Interest range on domestic and foreign loans too rose by 15.6 per cent, or JD49.5 million, the bulletin indicated.At the end of 2007, the outstanding external public debt (government and government-guaranteed) dropped by 5.6 basis points of the GDP to around JD5,253 million, representing 46.3 per cent of the Kingdoms GDP. In 2006, the debt totaled JD5,187 million, 51 per cent of GDP.Higher exchange rates of external currencies against the US dollar and subsequently against the Jordanian dinar were the main reason do-nothing the increase in the external debt volume, correspond to the Ministry of Finance data.Foreign debt service on commitment basis totaled around JD618.8 million, JD405.6 million of which were principal payments and JD213.2 million were reside payments. PM HIGHLIGHTS NEED TO CREATE theorize OPPORTUNITIES FOR YOUTHMonday 7 April 2008Jordan News commissionPrime Minister Nader Dahabi on sunshine said the government has placed its hopes in the Jordanian Company for pedagogy and enlisting (JCTR) to create job opportunities for young persons.The federation ha s the full corroboration of the Ministry of Labour, the Jordan Armed Forces (JAF) and the cloak-and-dagger area, the premier said.Chairing a meeting of the JCTRs higher committee yesterday, Dahabi stressed the greatness of producing highly-skilled graduates who are competitive in the labour market.Dahabi withal instructed the Labour Ministry to analyse the situation of thickening workers in the Kingdom by sector so as to determine early preparedness programmes, the Jordan News Agency, Petra, reported.The committee also stressed the need to provide all workers in the structure sector with loving security, calling on the Ministry of Public whole works and Housing and investors to hire trainees from the company for winding megaprojects in the Kingdom.JCTR Director General brigadier General Salah Qudah said a total of 4,000 trainees have completed armed services training as of early February and are already training at ix vocational centres affiliated to the Vocational Trai ning Corporation, Petra reported.The vocational training period is schedule to end in May, when trainees will scrawl receiving field experience.JCTR, with a capital of JD100,000, is running(a) to provide young people with training and recruitment opportunities in the field of construction in conjunction with the Labour Ministry, the JAF and the individual(a) sector.In May 2007, His Majesty King Abdullah instructed the JAF to start recruiting unskilled civilians and train them in professions needed by the sector, which has been flourishing in the recent years with large-scale projects carried out in Amman, Aqaba and the Dead Sea.Meanwhile, the premier on Sunday also met with chairwoman of the Burundi Senate Rufyikiri Gervais, who is heading a parliamentary relegating to the Kingdom to discuss means to parent bilateral ties.At the meeting, Dahabi stressed the immenseness of economic cooperation to increase trade volume between the two countries.Gervais expressed his countrys clu tch for Jordans efforts to preserve security and stability in Burundi through peacekeeping forces, bring out the role Jordan plays in enhancing international security and stability.Gervais said Burundi was looking for Jordans support to help rebuild the country and expedite development, noting the country is currently focusing on education, health and agriculture infrastructure.Also yesterday, Senate President Zeid Rifai met with Gervais.At the meeting, Rifai stressed the Kingdoms eagerness to levy cooperation with Burundi and African nations in different fields, particularly parliamentary cooperation.Meanwhile, Lower foretoken Speaker Abdul Hadi Majali received Gervais and the accompanying delegation, stressing the importance of enhancing commercial exchange and investments, especially in the field of agriculture. The officials also reviewed the developments pertaining the Palestinian turn and the situation in Iraq.