Complex Made Simple

Jordan’s public debt north of JOD22bn for first time

Debt now comprises 81.4 per cent of country’s estimated gross domestic debt for this year

Jordan’s net public debt expanded by eight per cent in the first eight months of the current year compared with the corresponding period last year.

For the first time, the Arab country’s debt stands at JOD22.1 billion after adding another JOD1.552bn during the eight-month period, according to official data.

The country’s debt now comprises 81.4 per cent of its estimated gross domestic debt for this year, up by 0.7 per cent from last year’s levels, the figures released by the finance ministry shows.

During the January-August period, net internal debt surged to JOD12.579bn or 46.3 per cent of GDP compared with JOD12.525bn at the end of 2014.

The figures published by Al Ghad newspaper indicate that the nation’s external debt swelled by another JOD1.498bn to a total of JOD9.52bn, comprising 35.1 per cent of GDP.

The general budget recorded a deficit of JOD895 million in the eight-month period against JOD1.06bn in the same period last year.

The combined value of local revenues and foreign grants edged down by 1.5 per cent to JOD3.414bn, according to the report.

(JOD1 = AED5.18, at the time of publishing)