Ammon News - AMMONNEWS - Jordan's public debt soared to JOD28.11 billion by the end of July this year comprising 96.1 percent of estimated Gross Domestic Product (GDP), according to official data.

In comparison with the figure recorded at the end of 2017, the country's current public debt shows a JOD1.17-billion increase, which the ministry of finance said was driven by loans secured to offset the budget deficit in addition to the government-guaranteed loans for the National Electricity Power Company and the Water Authority.

The data by the ministry of finance indicates that the Kingdom's external debt retreated by JOD227.4 million by the end of July, amounting to JOD11.63 billion or 39.8 percent of GDP. Domestic debt reached JOD14.97 billion or 51.2 percent of GDP, signaling a major uptick of JOD14.06 billion.