Latest news with #Central Bank of Jordan
Jordan Times
9 hours ago
- Business
- Jordan Times
Central Bank of Jordan maintains interest rates unchanged
AMMAN — The Open Market Operations Committee of the Central Bank of Jordan (CBJ) on Thursday decided to maintain interest rates on monetary policy instruments unchanged. The CBJ said in a statement that the decision was a result of the bank's commitment to closely monitor the national economy's developments, particularly monetary and banking indicators. It also said that the decision aligns with a comprehensive review of the international and regional economic dynamics. Citing the latest economic indicators, the bank said that Jordan's economy has shown notable resilience and flexibility in the face of persistent geopolitical tensions in the region, with the country's GDP growing by 2.7 per cent in the first quarter of 2025, marking an increase of 0.5 percentage points compared to the same period last year. The CBJ projects the economy will maintain this growth rate throughout the year, buoyed by strengthening domestic and external demand. Economic indicators confirm the strength of monetary stability in the Kingdom, the bank said, adding that its currency reserves surpassed $22 billion at the end of June, sufficient to cover 8.4 months of the country's imports of goods and services. Inflation has remained steady, averaging 2 per cent during the first half of the year, with full-year projections hovering around 2.2 per cent, CBJ said. 'This price stability supports consumer purchasing power and bolsters the competitiveness of the national economy.' The CBJ said that the banking sector continues to post strong figures. Customer deposits at local banks rose by 7.1 per cent year-on-year, reaching JD48.2 billion by the end of June. Credit facilities extended by banks grew by 3.9 per cent to JD35.5 billion over the same period. Financial soundness indicators reflect a robust banking system, with the capital adequacy ratio standing at 18.0 per cent, 'among the highest in the region,' the bank said, adding that the legal liquidity ratio reached 144.7 per cent, well above the CBJ's required minimum of 100 per cent. The CBJ said that the external sector also reported positive performance, with tourism revenues increasing by 11.9 per cent in the first half of the year to reach $3.7 billion compared to the same period in 2024. Total exports saw a significant rise of 8.6 per cent during the first five months of 2025, totalling $5.6 billion, the CBJ said.
Zawya
22-07-2025
- Business
- Zawya
Jordan: Public debt servicing in 2024 up by 14.4% — CBJ
AMMAN — The Central Bank of Jordan's (CBJ) annual report of the National Payments System revealed a 14.4 per cent increase in public debt servicing last year compared with 2023. According to the report, debt servicing reached JD4.8 billion in 2024, compared with JD4.2 billion in 2023, Al Mamlaka TV reported. The report indicated that debt servicing included the payment of interest on public debt issuances reached JD1.1 billion in 2024, compared with JD997 million during 2023, representing an increase of 19.4 per cent. The total value of public debt instruments issued in the market reached some JD5.5 billion in 2024 compared with JD5.2 billion in 2023, marking a 6 per cent increase. The issuances included bonds, sukuk, treasury bills, and other debt instruments, were the increase aimed at meeting government financing needs, according to the report. The Public Debt Management and Open Market Operations System (DEPO/X) is an integrated system under the CBJ for the registration and settlement of government securities. The system aims to enhance the efficiency of trading and settlement processes for government securities. It integrates seamlessly with the Real-Time Gross Settlement (RTGS) system, allowing banks to trade government securities securely and flexibly through buy-sell transactions. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Zawya
16-07-2025
- Business
- Zawya
Jordan's domestic revenues reach $5.6bln in first five months of 2025
AMMAN — Jordan's domestic revenues rose by JD224.1 million during the first five months of 2025, reaching JD4.067 billion, up from JD3.843 billion during the same period in 2024, according to public finance figures released on Tuesday. The increase reflects continued efforts to enhance revenue collection and improve fiscal performance amid regional and global economic challenges, the Jordan News Agency, Petra, reported. As of the end of May 2025, the Kingdom's public debt stood at JD35.8 billion, representing 92.7 per cent of GDP. The temporary rise in debt was attributed to financing the budget deficit, covering the operational losses of the National Electric Power Company (NEPCO) and the Water Authority, and securing concessional loans from friendly countries. During March and April, the government obtained a total of $1 billion in soft loans and issued Islamic sukuk at a competitive interest rate of 4.8 per cent, aiming to reduce debt servicing costs, ease fiscal pressures, and support capital development projects. The $1 billion was deposited with the Central Bank of Jordan and included in the public debt balance as of the end of May. In June, the government repaid $1 billion in Eurobonds without issuing new bonds, thereby avoiding higher interest rates that could have reached up to 9 per cent amid current global and regional financial conditions. The public debt is expected to decline to approximately JD35.3 billion by the end of June. The debt-to-GDP ratio, excluding bonds held by the Social Security Investment Fund, is projected to fall to around 91 per cent, reflecting a gradual improvement in Jordan's fiscal position. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
