Macroeconomic Forecast Jordan - Macroeconomic Forecast

BMI View: Jordan is set to post a series of tax increases, as the government struggles to rein in its budget deficit and match the demands of international donors. The tax on alcoholic drinks, previously at JOD2.5 (USD$3.5) per litre, has been raised to JOD3.5, while cigars will see an increase from a 15% tax to 100%. Mobile devices have also seen an 8% tax at point-of-sale go into effect in June, which the government hopes will net it JD4mn in new revenue. We forecast the budget deficit coming in at 7.3% of GDP in 2012.

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