Jordan's indebtedness at almost 75% of GDP
Jordan’s public debt increased by JD1.05 billion or 6.3 per cent during the first seven months of this year, according to the Ministry of Finance bulletin issued on Monday.
By the end of July 2013, the total debt reached JD17.6 billion, an amount that represents 73.5 per cent of the estimated gross domestic product (GDP) for 2013. The percentage is 2 points lower than the 2012 GDP.
At the end of last year, the debt stood at JD16,6 billion.
Other data showed that the state budget deficit before foreign grants totalled around JD370 million during the January-July period of this year, compared with around JD633 million during the same period last year.
Excluding foreign grants, the budget deficit would be JD842.6 million during the first seven months of 2013, compared with JD658.4 in the same period last year, the ministry indicated.
According to the report, foreign grants during the January-July period of 2013 increased significantly reaching JD472.2 million compared with JD25.2 million received during the same period last year.
Overall local revenues and foreign grants amounted to JD3.47 billion, JD580.5 million higher than the figure during the first seven months of 2012 when they stood at around JD2.892 billion, the report said.
Local revenues rose by JD133.5 million to around JD3 billion by the end of July this year from the same period last year, the report said.
Overall spending during the first seven months of 2013 increased by around JD317.7 million to reach to JD3.8 billion, compared with last year’s figure of around JD3.5 billion.
The higher expenditure was due to a JD202 million rise in recurrent spending and JD115.7 million in capital expenditure.