Jordan approves austerity moves to reduce deficit
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The Jordanian cabinet approved an austerity package that includes plans to raise taxes on banks and mining firms but avoids controversial fuel and electricity price rises to hold down the rise in the budget deficit, officials said on Sunday.
They said the first package of measures, approved at a cabinet meeting late on Saturday, also included cuts in the government's operational spending and a freeze on hiring, and were expected to produce savings of around 300 million dinars ($423 million). (Reuters)
