Saudi Arabia sends $50 million to Jordan for budget as economy falters

The Jordanian government is working to close tax loopholes and increase its revenue collection amid its economic struggle.
H.M. King Abdullah II of the Hashemite Kingdom of Jordan.
H.M. King Abdullah II of the Hashemite Kingdom of Jordan speaks during the Opening Ceremony & Leaders Panel at the 9th World Islamic Economic Forum at ExCel on Oct. 29, 2013, in London, England. - Miles Willis/Getty Images for 9th World Islamic Economic Forum
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Adam Lucente
@Adam_Lucente

Saudi Arabia sent $50 million to Jordan today to help the fellow monarchy fund its budget, the official Saudi Press Agency reported. 

The money is the fourth installment out of five that Saudi Arabia agreed to send as economic aid to Jordan back in 2018. At the Makkah Summit that year, Saudi Arabia, the United Arab Emirates and Kuwait each agreed to send $50 million annually to Jordan, ultimately totaling $2.5 billion by 2023, according to the agency. 

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