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Jordan's 2018 budget, which became law on Jan. 18, appears to be a success for Prime Minister Hani al-Mulki. When he assumed office in 2016, Jordan was headed toward insolvency, with the debt-to-GDP ratio having increased from just over 60 percent to 93.4 percent between 2011 and 2015, an increase of about six percentage points per year. This fiscal discipline is squeezing an already weak economy, and Jordan has barely begun the process of economic restructuring necessary for a sustainable economy.For 2018, the main "public" budget was 9.02 billion Jordanian dinars ($12.7 billion), funded by 8.50 billion dinars in internal revenue and foreign aid, leaving a deficit of 523 million dinars.Because Jordan has historically been under-taxed, its political model relying on foreign aid, it was able to nearly double domestic revenues from just 4.2 billion dinars in 2011 to 7.8 billion in 2018 .During 2017 Jordan received $1.78 billion in compensatory aid for hosting Syrian refugees, and combined with the $1.1 billion in direct budget aid for 2018 and $1.5 billion in remittances from citizens working abroad, these external stimuli account for 11 percent of GDP.
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