Public Debt increased 7.5% to reach JD38b in Q3 2022

debt obligation banking finance  loan money concept
(Photo: Freepik)
AMMAN — Jordan’s total public debt increased by 7.5 percent during the first nine months of 2022 compared to year-end figures for 2021, rising by JD2.6 billion to reach JD38.44 billion, according to the General Budget Department website, Al-Ghad daily reported.اضافة اعلان

Excluding the total debt contributions of the Social Security Investment Fund (SSIF), the balance of public debt at the end of the third quarter of 2022 amounted to JD30.9 billion, compared to JD28.76 billion at the beginning of 2021.

The debts of the SSIF reached JD7.5 billion in September of last year, and stood at JD7 billion at the end of the previous year.

External public debt by the end of September 2022 reached JD15.82 billion, compared to JD15.13 billion at the end of 2021. Meanwhile, domestic public debt as of September 2022 totaled JD19.5 billion (JD12.5 billion excluding debts by the SSIF), compared to JD13.62 billion at the end of 2021.

The World Bank had predicted that the ratio of public debt to GDP in Jordan for 2022 and 2023 would be 114.6 percent and 115.2 percent, respectively, assuming that the total debt would reach 37 billion for last year and 38 billion for the current year.

Meanwhile, the government built the general budget for last year based on an expected economic growth of 2.7 percent and total GDP of JD33.8 billion, and an expected total public debt of around JD38 billion.

Read more Business
Jordan News