Jordan's debt ballons
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.
- The Middle East's entire 'Wasta' culture needs to go down the drain
- 2014 in three words: deflation and lower returns
- How fear can be a good force in the workplace
- Housing and education costs eating away Dubai's tax-free benefits
- With World Cup under its sleeve, Qatar comes fourth in global slavery index