AMMAN — Since taking office and
up to the end of August 2022, the current government has borrowed JD1 billion
Social Security Investment Fund (SSIF), data from the latest General Government
Finance Bulletin revealed.
اضافة اعلان
According to the data, the
government borrowed half a billion dinars in 2021. The other half a billion dinars were
borrowed through a government bond in the first eight months of 2022.
Total
government debt owed to the SSIF
at the end of August 2022 amounted to JD7.504 billion, Al-Mamlaka TV reported.
HistoryIn 2018, the government's debt to the
SSIF amounted to JD5.425 billion.
At the end of 2019, it increased by
JD690 million, reaching JD6.117 billion, and by the end of 2020, it rose by
JD415 million to JD6.532 billion.
In 2021, it increased by JD470 million,
surpassing JD7 billion.
The debts increased in the first eight
months of 2022 by JD500 million, bringing the total to JD7.504 billion.
RepaymentFormer CEO of the SSIF and current
Minister of Investment Kholoud Saqqaf confirmed during an Economy and
Investment Parliamentary committee meeting in 2022 that the government is
committedly and consistently repaying the fund.
Repayment, she added, is conducted
directly through the
Central Bank of Jordan.
Secretary-General of the Ministry of Finance
Abdelhakim Shibli, during a press conference with the Minister of Finance in
November that the government's debt owed to the fund was being repaid promptly.
He added that JD7.5 billion debt is
excluded from the calculation of total public debt to keep Jordan on par with
countries that use a similar statistical standard.
The financial performance review of the
SSIF at the end of September 2022 revealed that the bond portfolio — which
indicates the amount of debt owed by the government to the fund — amounted to
55.7 percent of the total assets of the SSIF, which amounts to JD13.6 billion.
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