Latest news with #Petra news agency
Arab News
5 days ago
- Business
- Arab News
Jordan's domestic revenue rises 3.6% to $6.59bn in H1
RIYADH: Jordan's domestic revenues climbed 3.6 percent in the first half of 2025 to 4.67 billion dinars ($6.59 billion), bolstered by fiscal measures aimed at strengthening public finances, official data show. The increase — equivalent to about 164.7 million dinars — came as the government reduced public debt to 35.3 billion dinars, or 90.9 percent of gross domestic product, down from 92.7 percent in May, the state-run Petra news agency reported, citing Central Bank of Jordan figures. The decline followed the Finance Ministry's June repayment of $1 billion in maturing Eurobonds, funded through concessional loans secured earlier in the year at a 4.8 percent interest rate. The move allowed Amman to avoid issuing new debt at yields that could have approached 9 percent amid global and regional market pressures. According to a report in July, domestic revenues rose by about 224.1 million dinars in the first five months of the year, reaching 4.067 billion dinars, compared with 3.843 billion dinars in the same period of 2024. Tourism revenue for the first seven months of 2025 rose by 8.6 percent, totaling $4.398 billion. That growth occurred despite a 5.6 percent dip in tourism receipts in July, which fell to $721.4 million. Revenue from visitors of Asian nationalities surged by 41.1 percent, European visitors contributed a 33.8 percent increase, Americans accounted for a 21.7 percent rise, Arab visitors added 7.3 percent, and other nationalities posted a 38.0 percent increase. Meanwhile, revenue from Jordanian expatriate visitors declined by 2.5 percent. 'The figures showed a 4 percent increase in spending by Jordanians on tourism abroad during the first seven months of 2025, reaching $1.247 billion,' stated the report. In July alone, that outbound tourism spending rose 7 percent, amounting to $247.4 million. Jordan's Economic Modernization Vision identifies tourism as a core pillar of national growth, with the sector positioned to drive inclusive economic development and job creation. The strategy aims to boost GDP growth to 5.6 percent and attract significant private investment, with 72 percent of the required 41 billion dinars expected from non-government sources. The National Tourism Strategy 2021-25 supports this vision by promoting sustainable, authentic tourism experiences and strengthening sector competitiveness. These initiatives form part of broader efforts to diversify revenue streams, enhance fiscal resilience, and position Jordan as a high-value destination for regional and international travelers.
Arab News
6 days ago
- Politics
- Arab News
Jordanian king rejects displacing Palestinians during meeting with Egyptian PM
LONDON: King Abdullah II of Jordan emphasized the need for continued high-level coordination and cooperation between Jordan and Egypt during a meeting with Prime Minister Mostafa Madbouly at Al-Husseiniya Palace in Amman. Madbouly led a delegation at the meetings of the Jordanian-Egyptian Joint Higher Committee on Tuesday, where they discussed cooperation between the two countries, particularly in the economic sector. King Abdullah warned of the dangers of Israel's plan to consolidate its occupation of Gaza and expand military control, rejecting any attempts to displace Palestinians or annex land in Gaza and the West Bank, the Petra news agency reported. He commended Egypt's support for Palestinians under President Abdel Fattah El-Sisi and emphasized the need to halt the Israeli war on Gaza and ensure continuous humanitarian aid flow, Petra added. Director of the Office of His Majesty Alaa Batayneh attended the meeting. On Monday, King Abdullah and Saudi Crown Prince Mohammed bin Salman discussed developments in Gaza and the West Bank at Neom Palace. The leaders discussed the regional situation, exchanged views on mutual concerns and explored ways to enhance Saudi-Jordan ties for shared interests and Arab causes.
Arab News
30-07-2025
- Politics
- Arab News
Jordanian king says Gaza catastrophe ‘unlike anything witnessed' in recent history
LONDON: King Abdullah II of Jordan said on Wednesday that the humanitarian crisis in the Gaza Strip is among the worst in modern history, as the Israeli military campaign in the Palestinian coastal enclave reaches its 22nd month. He affirmed that 'Jordan has been, and will remain, the greatest support for Gaza's people, who are suffering from a humanitarian catastrophe unlike anything witnessed in recent history.' During a meeting with media representatives at Al Husseiniya Palace, King Abdullah emphasized Jordan's ongoing diplomatic efforts to end the Gaza conflict. He highlighted discussions with Germany and Canada, as well as coordination with Arab leaders and international partners, aimed at enhancing the humanitarian response in Gaza. 'The suffering of our brethren in Gaza strikes at the very sense of our humanity, not just because it is happening at our doorstep, but also because this country was built on compassion, on standing with those who suffer,' he said. 'No matter how much we do, it can never measure up to the scale of the horror Palestinians in Gaza endure every single day, not when entire families are being erased and children are being starved. 'But that doesn't mean that we are not doing everything in our power. We are. And we will continue to do so, relentlessly and without hesitation,' he said, Petra news agency reported. The Jordanian leadership has been steadfast in its support of Palestinian rights, including the establishment of statehood and an end to Israeli occupation policies. Jordan was one of the first countries to conduct airlift missions in the early days of the Israeli war, delivering relief to Gaza, and dispatching hundreds of aid convoy trucks to the territory since late 2023.
