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Jordan's Net Public Debt Rises 4.6% in 7 months

Jordan's Net Public Debt Rises 4.6% in 7 months

Friday, 7 September, 2018 - 12:30
Chinese tourists take pictures during their visit to the Amman Citadel, an ancient Roman landmark in Amman, Jordan, May 23, 2016. Reuters/Muhammad Hamed
Amman - Asharq Al-Awsat
Jordan's net public debt rose by 4.6 percent to 26.6 billion dinars ($37.5 billion) in the first seven months of 2018 compared with 25.4 billion dinars at the end of 2017.

The kingdom's net domestic debt stood at 14.97 billion dinars at the end of July, while external debt reached 11.63 billion dinars, according to statistics published on the Ministry of Finance website on Thursday.

Jordan's net public debt is equivalent to 91 percent of the country's GDP.

The International Monetary Fund (IMF) provided a $723 million credit line to the country in 2016, as part of a 3-year plan to bring down debt levels 77 percent by 2021.

Jordanian Minister of State for Investment Affairs Muhannad Shehadeh said, days earlier, that Jordan is anticipated to attract more direct foreign investment flows in 2018 so that investments’ value increases around 5 percent this year.

Direct foreign investment grew 7.2 percent last year to 1.182 billion dinars ($1.66 billion) compared with 1.102 billion dinars in 2016. Shehadeh said that foreign investment in the Arab world declined but rose in Jordan.

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