By the close of August, Jordan saw its government debt, excluding its obligations to the Social Security Fund Investment Fund (SSIF), rise to JD31.714 billion, representing 88.7% of the Kingdom’s estimated gross domestic product (GDP). This marks an increase from JD30.667 billion, or 88.8% of the GDP for 2022, a figure inclusive of the National Electricity Company and Water Authority debts, which stand at roughly JD8.7 billion. Data released by the Ministry of Finance indicates that, as of August 2023, the external debt (both budgeted and guaranteed), after accounting for the government’s dues to the SSIF, stood at around JD17.823 billion. This equates to 49.8% of the estimated GDP for August 2023, a rise from JD16.488 billion or 47.7% of the GDP in 2022. For August 2023, the service of external debt (budgeted and guaranteed) amounted to nearly JD18.2 million, while external installment payments totaled approximately JD72.6 million. Domestically, the balance of the debt (budgeted and guaranteed), after excluding the government’s debt to the SSIF, was about JD13.891 billion by the end of August, or 38.8% of the estimated GDP for that month. This compares to JD14.178 billion, or 41% of the GDP, recorded in 2022.

Source: Jordan News Agency