Ammon News - AMMONNEWS - Jordan's public debt stood at JOD26.1 billion at the end of 2016, down by JOD300 million from the estimated figure of the year, which was put at JOD26.4 billion, according to a ministry of finance statement.

Preliminary data shows that the country's public debt now comprises 94.9 per cent of the estimated GDP, assuming that nominal GDP for 2016 would grow by 3.3 per cent, compared with the International Monetary Fund's figures, which estimated that the Kingdom's debt would make up 95.1 per cent of its GDP.

The ministry said public debt expanded by 5 per cent in 2016, down from 9.8 per cent at the end of 2015. Furthermore, preliminary actual budget deficit reached JOD856 million, down from the JOD907 million the government estimated when it drafted the 2016 budget. The decline in the state's budget deficit was a result of higher revenues and lower expenditure, the statement explained.