Jordan’s public debt amounted to JOD26.2 billion at the end of the third quarter of the current year comprising 94.1 per cent of Gross Domestic Product (GDP) compared with JOD26.1 billion or 95.1 per cent of GDP at the end of 2016.

The public debt-to-GDP ratio is set to slightly rise to 95.1 percent by the end of the current year, according to quarterly data released by the ministry of finance. It said public expenditure reached JOD2.51 billion in the January-March period against JOD2.45 billion in the same period last year.

Local revenues edged up to JOD2.28 billion while foreign grants to support the budget plunged to JOD85 million down from JOD152 million in the same period last year.

The figures also showed that pre-grant budget deficit in the three month period surged to JOD231 million against JOD174 million in the corresponding period last year. The government estimates the 2017 budget deficit to stand at JOD693 million.

Source: Fana News