Public debt stands at JD31.714 billion, 88.7% of GDP — gov't

AMMAN — The government debt, excluding its commitments to the Social Security Investment Fund (SSIF), increased to JD31.714 billion at the end of August, equivalent to 88.7 per cent of the Kingdom’s estimated GDP.

The figure marks an increase from JD30.667 billion, or 88.8 per cent of the GDP for 2022, including the debts of the National Electricity Power Company and Water Authority of Jordan, which stand at JD8.7 billion, the Jordan News Agency, Petra, reported, citing data of the Finance Ministry.

The data indicated that the external debt, both budgeted and guaranteed, after excluding the government's dues to the SSIF, stood at JD17.823 billion at the end of August 2023, or 49.8 per cent of the estimated GDP for August 2023, up from JD16.488 billion, or 47.7 per cent of the GDP in the same period last year.

In August 2023, the service of external debt amounted to approximately JD18.2 million, while external installment payments totaled JD72.6 million, Petra said.

On the other hand, the balance of the domestic debt stood at approximately JD13.891 billion by the end of August, or 38.8 per cent of the estimated GDP, compared with JD14.178 billion, or 41 per cent of the GDP recorded in the same period in 2022.