Complex Made Simple

Jordan’s debt up 1.2 pct in Feb to $29.3 bln

Finance Ministry said the kingdom's debt stood now at 76 percent of GDP.

AMMAN, May 6 (Reuters) – Jordan’s gross domestic and foreign debt rose 1.2 percent to 20.8 billion dinars ($29.3 billion) at the end of February compared with the end of last year, finance ministry data showed on Wednesday.

Gross net domestic debt rose to 12.77 billion dinars at the end of February against 12.52 billion dinars at end of 2014, the data showed.

Foreign debt, mostly to major Western donors and international financial institutions, fell slightly to 8.02 billion dinars at the end of February from 8.03 billion dinars at the end of 2014, the data showed.

The ministry said the kingdom’s debt stood now at 76 percent of GDP.

The last three years have seen Jordan resort to more foreign financing on preferential terms than domestic borrowing to mitigate the impact of accommodating hundreds of thousands of Syrian refugees.

$1=0.7090 dinars (Reporting by Suleiman Al-Khalidi; Editing by Larry King)