Jordan's cabinet endorses 2014 budget

Jordan's cabinet on Wednesday endorsed the 2014 state budget, which forecasts an increase in economic growth. The budget projects economic growth at 3.5 percent in 2014 compared to 3.3 percent in 2013. The country's inflation is expected to drop to 4.2 percent in 2014 compared to 5.9 percent in 2013, Finance Minister Umayyah Toukan said Wednesday. Local revenues are estimated at 5.831 billion dinars (8.25 billion U.S. dollars) in 2014 compared to 5.226 billion dinars (7. 39 billion dollars) in 2013, the minister noted. In 2014, Jordan is expected to receive more external grants, he said, adding that foreign grants are estimated at 1.151 billion dinars (1.63 billion dollars) in 2014 compared to 982 million dinars (1.31 billion dollars) this year.