Debt ratio to GDP slightly down by July 31

AMMAN —The internal and external public debt dropped down to 94.1 per cent of the GDP by the end of July compared to 95.1 in the same period of 2016, the Jordan News Agency, Petra, reported on Tuesday.

According to the Finance Ministry, the total sum of the debt amounted to JD26.550 billion, compared with JD26.092 billion during the same period last year.

The ministry noted that JD7.6 billion of the debt is owed by the National Electricity Company, adding the rate is expected to remain the same until the end of 2017. 

The state-owned company has incurred losses after the so-called Arab Spring and subsequent terror attacks on gas pipelines disrupted the flow of the relatively cheap Egyptian gas.

Also on Tuesday, the ministry said that the general budget’s deficit before external grants until the end of July reached JD674 million, compared with JD565.5 million in the same period of 2016.

As for the domestic revenues, they increased to JD3.966.5 billion, up from JD3.862 last year.