Import Subsidies To Slow Down Fiscal Improvements

BMI View: The signing of a USD3bn soft loan import subsidy agreement between the Jordanian government and the International Islam ic Trade Finance Corporation (I TFC) will reverse some of the subsidy cuts made since 2012 and push up government expenditure. As a result, the country's fiscal deficit will narrow at a slower pace than we had previously anticipated , reaching 2.2% of GDP in 2015 and 1.7% in 2018.We forecast fiscal improvements in Jordan to take place at a slower pace...

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