Gov’t repays private sector JD350 million — finance minister

AMMAN — The government has paid back JD350 million owed to the private sector over the last two weeks, according to a Finance Ministry statement.  

Finance Minister Mohamad Al-Ississ on Sunday said that the ministry during the last week of December 2019 paid back JD250 million, followed by JD100 million during this week.

The ministry has managed the liquidity problem by securing necessary funding for the private sector, with the aim to support the private sector’s productivity in compliance with the government's stimulus packages, he added.       

Al-Ississ highlighted that addressing overdue financial arrears aims at stimulating the economy and improving performance, which in return would cut the State Treasury's costs and enhance the efficiency of public financial management, as well as boost trust in financial transactions.

The contracting sector and Desert Highway received JD95 million, support for municipalities and universities amounted to JD40 million, health and transportation sectors received JD35 million, the water sector received JD22 million, expropriations stood at JD20 million, while JD17 million was allocated for tax refunds and JD15 million for drug stores.