Public debt rises to JOD28.5bln, comprises 94.9pct of estimated GDP

23-12-2018 04:20 PM

Ammon News - AMMONNEWS - The total public debt amounted to JD28.5 billion, comprising 94.9 per cent of the estimated gross domestic product (GDP) at the end of October 2018, compared with JOD27.269 billion or 94.3 per cent of the GDP in 2017.

The Ministry of Finance said in its monthly report of the most prominent financial developments that the debts of the National Electricity Power Company (NEPCO) and the Water Authority, guaranteed by the central government, amounted to about JOD 7.4 billion.

The net public debt at the end of October of this year indicated a rise of JOD1.661 billion, compared to the end of 2017. The ministry explained that the funds were borrowed to offset the general budget deficit and cover guaranteed loans for NEPCO and the water authority, so the public debt reached JOD27.096 billion, constituting 90.4 per cent of the estimated GDP at the end of October 2018, compared with JOD25.435 billion, constituting 88 per cent of GDP, for 2017.

The existing balance of external debt (budget and guaranteed) at the end of October 2018 edged up by JOD175 million to reach JOD12.042 billion, constituting 40.2 per cent of the estimated GDP for the end of October 2018, compared to JOD11.867 billion, constituting 41.1 per cent of GDP at the end of 2017.

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