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Jordan seeks to tackle budget deficit

Xinhua, January 31, 2017 Adjust font size:

Jordanian Finance Minister Omar Malhas said on Monday that his country will soon take measures to offset its budget deficit.

The government will increase sales taxes, remove tariffs on several commodities, including some food, and raise prices for telecom services, said Malhas.

But 70 percent of commodities used by Jordanians will not be affected, he added.

Jordan will also cut spending by the public agencies, the minister said.

Malhas said the measures are part of a deal that Jordan signed with the International Monetary Fund (IMF) in 2016, which required the kingdom to take specific economic reforms.

Jordan's Minister of State for Media Affair Mohammad Momani said the economic reforms prove the strength of the Jordanian economy.

In July 2016, Jordan signed a letter of intent with the IMF to borrow 700 million U.S. dollars through its Extended Fund Facility program.

The budget deficit in Jordan is expected to hit about 800 million dinars (1.13 billion dollars) in 2017, according to Malhas. Endit