Latest news with #JD34.178

Ammon

Public debt rises to JD35.08 billion in Q1 2025

Ammon News - The government debt reached JD35.080 billion by the end of March 2025, equivalent to 91.5 percent of the estimated GDP, excluding holdings by the Social Security Investment Fund (SSIF). This figure marks an increase from JD34.178 billion recorded at the end of 2024, or 90.2 percent of GDP, and includes liabilities from the National Electric Power Company and the Water Authority totaling around JD8.8 billion. According to the Ministry of Finance's monthly bulletin, the temporary rise in debt is primarily due to the government securing soft loans at "competitive" interest rates, which were deposited with the Central Bank of Jordan to repay Eurobonds maturing in June. The external public debt (budget and guaranteed), excluding SSIF's holdings, reached approximately JD19.6 billion by the end of March equivalent to 51.2 percent of GDP compared to JD19.335 billion at the end of 2024. Meanwhile, domestic debt stood at around JD15.4 billion, or 40.2 percent of GDP, up from JD14.8 billion (39.2 percent) at the close of last year. In terms of servicing external debt, interest payments in March amounted to JD24.4 million, while principal repayments reached JD56 million. On the fiscal performance front, total general revenues during the first quarter of 2025 amounted to JD2.163 billion, an increase of JD103 million (5 percent) compared to JD2.060 billion during the same period last year. Additionally, total government expenditures went up to JD2.7 billion from JD2.488 billion, marking a rise of JD212 million (8.5 percent). This increase was driven by higher current expenditures (up JD147 million or 6.2 percent) and a significant rise in capital expenditures (up JD65 million or 65.2 percent). These developments led to a fiscal deficit of JD537 million in the central government's budget after grants, compared to JD428.8 million during the first quarter of 2024. Before accounting for grants, the deficit reached JD540.4 million, up from JD478.3 million for the same period last year.