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Per capita share of public debt rises to over JD3,000

By Omar Obeidat - Apr 11,2015 - Last updated at Apr 11,2015

AMMAN – Every Jordanian owes over JD3,100 ($4,375) to the Kingdom's creditors. 

Official figures show that per capita share of Jordan's public debt –– which reached JD20.5 billion by the end of 2014 –– grew by nearly 7 per cent over 2013, when national debt stood at JD19.09 billion and the share of each citizen of the debt was JD2,924 ($4,127). 

The estimated population of the Kingdom is 6.6 million. 

According to Finance Ministry data, the public debt increased by nearly 80 per cent in five years, between 2010 and 2014, from JD11.4 billion to the JD20.5 billion registered by the end of last year. 

In 2011, the Kingdom's overall debts reached JD13.4 billion and mounted to JD16.58 billion in 2012 and to JD19.09 billion by the end of 2013. 

The ratio of debts to the gross domestic product went up from 61 per cent in 2010 to 80.3 per cent by the end of 2014, the figures showed. 

The share of citizens’ debt surged by 70 per cent in five years as it stood at JD1,875 in 2010, JD2,145 in 2011, JD2,596 in 2012 and JD2,924 in 2013. 

Official data showed that the government of Prime Minister Abdullah Ensour has borrowed JD4 billion in 2013 and 2014. 

Ensour was appointed as prime minister in October 2010. 

According to the Finance Ministry report, the government borrowed JD1.459 billion in 2014, around JD795 million of which was external. 

Nearly JD8 billion, or 40 per cent of the Kingdom’s debts are external, from regional and international lenders, while JD12.5 billion were borrowed from local banks, the ministry report said. 

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