Jordan's public debt is how much?! Breaking down the Kingdom's ever-growing financial crisis
Jordan’s public debt exceeded JD19 billion (nearly $27 billion) at the end of November 2013, official data showed on Tuesday.
According to the Ministry of Finance figures, the debt shot up by 15 per cent or JD2,484 million reaching JD19.065 billion.
The external debt totalled JD7,202.8 million or 30 per cent of the estimated GDP for 2013 with a debt service of around JD112.2 million, while at the end of 2012, the external debt was JD4,932.4 million or 22.5 per cent.
The domestic public debt reached around JD11,862 million at the end of November 2013, representing 49.4 per cent of the estimated GDP for 2013 compared with JD11,648 million at the end of 2012 or 53 per cent of the 2012 GDP.
The ministry’s bulletin also pointed to the $1.25 billion US-guaranteed Eurobonds issued by the Jordanian government, carrying an interest rate of 2.503 per cent and set to mature in 2020.
Other data showed that the state budget deficit, excluding external foreign grants, widened to JD1,680.2 million compared with JD1,523.8 million.
External grants amounted to JD579.4 million during the first 11 months of last year compared with JD96.6 million in the previous year.
The increase resulted from rise by JD70.1 million in current spending, accompanied by an increase by JD199.4 million in capital expenditures.
- Getting their priorities straight: Emirati households spending more on phones, cars than education
- Why Qatar stocks hit six year high this week
- Are Arab Bankers right to blame the region's deteriorating economies on the Arab Spring?
- Spotlight on Saudi Arabia’s "resilient" banking sector
- Lebanese startup's move to global platform paving way for entrepreneurship growth