Jordan's debt ballons
Worries for the King as public debt increases
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By the end of 2011, Jordan's overall public debt stood at AED69.6 billion, according to the ministry figures, which showed that borrowing from local banks went up by over AED10.4 billion, while loans from international lenders rose by less than AED1.56 billion.
The report showed the outstanding external public debt was at AED24.8 billion, while the total domestic debts were AED56.9 billion.
The Kingdom's other large lenders are the World Bank, which Jordan owed AED4.23 billion by the end of August, the International Monetary Fund with AED1.44 billion and the Arab Fund for Economic and Social Development with AED2.93 billion.
Another report on the fiscal performance of the government showed that domestic revenues between January and August 2012 were AED16.34 billion, with an increase of AED1.17 billion.
The deficit in the state budget by the end of August was AED4.6 billion after including grants.
The projected budget deficit for this year is AED6.23 billion.
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