Hashemite Kingdom of Jordan : Options for Immediate Fiscal Adjustment and Longer Term Consolidation

This report aims to provide options for immediate fiscal adjustment to the government of Jordan and to set the foundations for longer term consolidation. To that effect, an analysis of the dynamics of revenues and expenditures over the years 2000-2...

Full description

Bibliographic Details
Main Author:	World Bank
Format:	Public Expenditure Review
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCUMULATION OF ARREARS ADMINISTRATIVE COSTS ANNUAL COST ANNUAL RATE ARREARS BANK BORROWINGS BENEFICIARIES BOND BORROWING REQUIREMENT BROKERAGE BUDGET BALANCE BUDGET CLASSIFICATION BUDGET DEFICIT BUDGET DEPARTMENT BUDGET EXPENDITURE BUDGET LAW BUDGETARY EXPENDITURES BUDGETING CAPITAL ACCOUNT CAPITAL EXPENDITURE CAPITAL EXPENDITURES CAPITAL GAINS CAPITAL MARKET CAPITAL MARKETS CAPITAL SPENDING CASH TRANSFERS CENTRAL BANK CENTRAL GOVERNMENT CIVIL SERVANTS CIVIL SERVICE CLASSIFICATION OF EXPENDITURES COMMODITY PRICE COMPETITIVE BIDDING CONSUMPTION GOODS CONTRACTUAL OBLIGATIONS COST RECOVERY CURRENCY CYCLICAL FACTORS DEBT DYNAMICS DEBT SERVICE DEFICITS DEPOSITS DEVELOPING COUNTRIES DISBURSEMENTS DISTRIBUTIONAL IMPACT DOMESTIC DEMAND ECONOMIC CLASSIFICATION ECONOMIC DOWNTURN ECONOMIC GROWTH EFFICIENCY GAINS EFFICIENCY OF PUBLIC SPENDING ELECTRICITY EMERGING ECONOMIES EQUIPMENT EQUITY CONSIDERATIONS EXCHANGE RATE EXOGENOUS SHOCKS EXPENDITURE EXPENDITURE PERSPECTIVES EXPENDITURES EXTERNAL GRANTS FINANCE MINISTRY FINANCIAL CRISIS FINANCIAL INSTITUTIONS FINANCIAL POLICIES FINANCIAL RESOURCES FINANCIAL SUSTAINABILITY FISCAL ADJUSTMENT FISCAL ADJUSTMENTS FISCAL AFFAIRS FISCAL AUSTERITY FISCAL BURDEN FISCAL CONSOLIDATION FISCAL CONSTRAINTS FISCAL DEFICIT FISCAL DEFICITS FISCAL IMPLICATIONS FISCAL POLICIES FISCAL POLICY FISCAL PRESSURE FISCAL REFORM FISCAL SAVINGS FISCAL SUSTAINABILITY FOREIGN DIRECT INVESTMENT FOREIGN GRANTS FOREIGN INFLOWS FOREIGN INVESTORS FOREIGN MARKETS GOVERNMENT BUDGET GOVERNMENT BUDGET DEFICIT HEALTH INSURANCE HIGHER DEFICITS HOUSING INCOME REDISTRIBUTION INCOME TAX INFLATION INFRASTRUCTURE PROJECTS INSTRUMENT INSURANCE INTEREST INCOMES INTEREST RATE INTEREST RATES INVESTING INVESTMENT SPENDING ISLAMIC LAW LABOR MARKET LEVELS OF PUBLIC SPENDING LOAN MACROECONOMIC INSTABILITY MACROECONOMIC MANAGEMENT MARKET PRICES MEDIUM-TERM EXPENDITURE MEDIUM-TERM EXPENDITURE FRAMEWORK MEDIUM-TERM OBJECTIVES MILITARY EXPENDITURES MILITARY PERSONNEL MILITARY SPENDING MINISTRY OF FINANCE MOBILE PHONES MONETARY FUND OIL PRICE OIL PRICES OUTSTANDING STOCK PAYMENT OBLIGATIONS PENSION PENSION REFORM PENSION SYSTEM PENSIONS PERVERSE INCENTIVES POLICY RESPONSE POVERTY LEVEL POVERTY REDUCTION PRICE INDEX PRIVATE FIRMS PRIVATE SECTOR PRIVATE SECTOR GROWTH PROGRAMS PUBLIC PUBLIC DEBT PUBLIC EMPLOYMENT PUBLIC EXPENDITURE PUBLIC FINANCES PUBLIC FUNDS PUBLIC HOSPITALS PUBLIC INVESTMENT PUBLIC PENSION PUBLIC PENSIONS PUBLIC SCHOOLS PUBLIC SECTOR PUBLIC SECTOR BORROWING PUBLIC SECTOR CONSUMPTION PUBLIC SECTOR DEFICIT PUBLIC SECTOR DEFICITS PUBLIC SECTOR EMPLOYEES PUBLIC SECTOR EMPLOYMENT PUBLIC SECTOR LABOR PUBLIC SECTOR PRODUCTIVITY PUBLIC SECTOR WAGES PUBLIC SECTORS PUBLIC SERVICE PUBLIC SERVICES PUBLIC SPENDING REAL ESTATE TAX REAL GROWTH REAL INTEREST REAL INTEREST RATE REFORM OBJECTIVES REFORM PROGRAM REGISTRATION FEES RETURN RETURNS REVENUE INCREASES SALES TAX SALES TAXES SAVINGS SAVINGS OPTIONS SERVICE DELIVERY SERVICE EMPLOYMENT SETTLEMENT SMALL BUSINESS SOCIAL ASSISTANCE SOCIAL PROGRAMS SOCIAL PROTECTION SOCIAL SECURITY SOCIAL SECURITY SYSTEM SOVEREIGN GUARANTEE SOVEREIGN GUARANTEES STRUCTURAL REFORMS TAX TAX ADMINISTRATION TAX BASE TAX BURDEN TAX CODE TAX CREDIT TAX CREDITS TAX CUTS TAX EXEMPTION TAX EXEMPTIONS TAX EXPENDITURES TAX INCENTIVES TAX LAW TAX ON INTEREST INCOME TAX POLICIES TAX RATE TAX RATES TAX REFORM TAX REVENUE TAX REVENUES TAX SUBSIDIES TAX SYSTEM TAXATION TAXPAYERS TELECOMMUNICATIONS TOTAL EXPENDITURES TOTAL SPENDING TRANSPARENCY TURNOVER UNCERTAINTY VALUATIONS WAGE POLICY WELFARE LOSS
Online Access:	http://documents.worldbank.org/curated/en/2012/11/17290989/hashemite-kingdom-jordan-options-immediate-fiscal-adjustment-longer-term-consolidation http://hdl.handle.net/10986/13251

Description
Summary:	This report aims to provide options for immediate fiscal adjustment to the government of Jordan and to set the foundations for longer term consolidation. To that effect, an analysis of the dynamics of revenues and expenditures over the years 2000-2011 is undertaken. Specifically, this report attempts to provide options to stop and reverse the declining trend in revenues observed since 2007. Indeed, domestic revenues declined by 9.4 percentage points of GDP between 2007 and 2011. This steady and structural decline in revenues increased the vulnerability of Jordan s public finances to any exogenous shock. Hence, the strong fiscal stress at the eve of the Arab Awakening, due to the pressures to finance widening power sector deficit following the disruption of Egyptian gas supply, and to meet popular demand for additional spending and subsidies. The report also examines: 1) potential sources of savings from current and capital spending, 2) scenarios to reduce power sector deficit including tariff simulations, 3) options to reduce consumer subsidies and target them more efficiently to the poor, and 4) options to reduce the financial deficit of the water sector. The report ranks the measures according to a rating mechanism that takes into account the magnitude of savings, the efficiency improvements in the use of public resources, the distributional impact, previous dynamic of the spending or revenue item in question, the poverty and social impact, and the growth impact. Finally, the report proposes a matrix of policy objectives and actions that identifies areas of policy reform, policy objectives, actions needed to reach this objective, and time horizon.

Hashemite Kingdom of Jordan : Options for Immediate Fiscal Adjustment and Longer Term Consolidation

Similar Items