Public debt increases by 1.6% in first half of this year

(File photo: Jordan News)
AMMAN — The balance owed by Jordan during the first half of this year increased by 1.6 percent, to JD29.16 billion, compared to JD28.7 billion at the end of 2021, according to local media outlets.اضافة اعلان

Statistics published on the website of the Ministry of Finance on Sunday showed that Jordan’s internal debt at the end of the first half of 2022 amounted to JD13.89 billion, and external debt amounted to JD15.26 billion. According to the data, the total public debt increased by JD757 million in the first half of 2022 compared to the end of 2021.

But discrepancies remain over the Dept to GDP ratio, which Al-Mamlaka TV said it had now increased to 107.6 percent in the first half of 2022. According to other outlets, however, the percentage now stands at 88.4 percent of the Kingdom’s GDP.

The Ministry of Finance announced early last year that it had changed its method for calculating public debt in agreement with the International Monetary Fund, so that its debts would be excluded from the Social Security Investment Fund, which amounted to nearly JD7 billion.

The government has adopted the concept of general government debt, which considers the debt from the Social Security Investment Fund, municipalities and independent bodies as debt from government institutions.

Meanwhile, the consumer price index (CPI), an inflation indicator, increased by 5.36 percent during August compared to the same period last year, according to the Department of Statistics, Al-Mamlaka TV reported.

According to the report, what mainly contributed to this increase was “the fuel and electricity by 31.59 percent, transportation by 6.89 percent, rents by 4.48 percent, culture and entertainment by 14.2 percent, and health by 6.97 percent.”

At a cumulative level, the average CPI for the first eight months of this year was 106.07, compared to 102.14 for the same period in 2021, registering a 3.85 percent increase, the report said.

Among the most prominent commodity groups that contributed to this rise are “fuel and electricity by 20.97 percent, transportation by 5.80 percent, vegetables and dry and canned legumes by 10.15 percent, rents by 1.59 percent, and culture and entertainment by 8.14 percent”, according to the report.

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