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Zawya
22-05-2025
- Business
- Zawya
Jordan: Public debt rises to $40bln by March, driven by Eurobond repayment strategy
AMMAN — The government debt reached JD35.080 billion by the end of March 2025, equivalent to 91.5 per cent of the estimated Gross Domestic Product (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 per cent of GDP, and includes liabilities from the National Electric Power Company (NEPCO) and the Water Authority totalling around JD8.8 billion, the Jordan News Agency, Petra, reported. According to the Ministry of Finance's monthly bulletin announced on Wednesday, 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 (CBJ) to repay Eurobonds maturing in June. The external public debt, including budget and guaranteed, excluding the SSIF's holdings, reached approximately JD19.6 billion by the end of March, which is equivalent to 51.2 per cent of the GDP compared with JD19.335 billion at the end of 2024. Meanwhile, domestic debt stood at around JD15.4 billion, or 40.2 per cent of the GDP, up from JD14.8 billion (39.2 per cent) 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 fiscal performance, total general revenues during the first quarter of 2025 amounted to JD2.163 billion, an increase of JD103 million (5 per cent) compared with JD2.060 billion during the same period last year. In addition, total government expenditures went up to JD2.7 billion from JD2.488 billion, marking a rise of JD212 million (8.5 per cent). This increase was driven by "higher" current expenditures (up JD147 million or 6.2 per cent) and a "significant" rise in capital expenditures (up JD65 million or 65.2 per cent). These developments led to a fiscal deficit of JD537 million in the central government's budget after grants, compared with 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. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Jordan Times
21-05-2025
- Business
- Jordan Times
Public debt rises to JD35.08b by March, driven by Eurobond repayment strategy
Government debt reaches JD35.080 billion by the end of March 2025, equivalent to 91.5 per cent of the estimated Gross Domestic Product, excluding holdings by the Social Security Investment Fund (Petra photo) AMMAN — The government debt reached JD35.080 billion by the end of March 2025, equivalent to 91.5 per cent of the estimated Gross Domestic Product (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 per cent of GDP, and includes liabilities from the National Electric Power Company (NEPCO) and the Water Authority totalling around JD8.8 billion, the Jordan News Agency, Petra, reported. According to the Ministry of Finance's monthly bulletin announced on Wednesday, 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 (CBJ) to repay Eurobonds maturing in June. The external public debt, including budget and guaranteed, excluding the SSIF's holdings, reached approximately JD19.6 billion by the end of March, which is equivalent to 51.2 per cent of the GDP compared with JD19.335 billion at the end of 2024. Meanwhile, domestic debt stood at around JD15.4 billion, or 40.2 per cent of the GDP, up from JD14.8 billion (39.2 per cent) 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 fiscal performance, total general revenues during the first quarter of 2025 amounted to JD2.163 billion, an increase of JD103 million (5 per cent) compared with JD2.060 billion during the same period last year. In addition, total government expenditures went up to JD2.7 billion from JD2.488 billion, marking a rise of JD212 million (8.5 per cent). This increase was driven by "higher" current expenditures (up JD147 million or 6.2 per cent) and a "significant" rise in capital expenditures (up JD65 million or 65.2 per cent). These developments led to a fiscal deficit of JD537 million in the central government's budget after grants, compared with 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. Page 2
Rudaw Net
16-05-2025
- Business
- Rudaw Net
Jordan to supply Iraq's electrical grid with 150-200 MW by August
Also in Iraq Iraq begins registering land for Development Road Green Climate Fund approves Iraq's $1.3bn climate program Iraqi electoral body to open candidate registration May 25 Over 100 public figures denounce trial of Kirkuk Kurdish farmer as 'political' A+ A- ERBIL, Kurdistan Region - Jordan's state-owned electricity provider said the second phase of a project to supply Iraq with power is nearing completion and is expected to deliver 150-200 megawatts by August, as Baghdad races to ease summer shortages. 'The project is nearing completion at this stage and is expected to supply the Iraqi side with about 150-200 megawatts,' said Sofian al-Bataineh, the director of the Jordanian National Electric Power Company (NEPCO), state media Petra reported. Petra said NEPCO is increasing efforts to complete the phase in August. In February 2024, Jordan signed an agreement to supply electricity to Iraq, building on a foundation laid in October 2022. On Thursday, Ahmed Mousa, spokesperson for Iraq's electricity ministry, told Rudaw that the first stage of the project has been completed and currently provides 54 megawatts to Anbar. Third and fourth stages are planned. 'The third phase of the project will reach 350 megawatts of electricity, and then we will discuss the fourth phase, which is to connect the power line between Egypt, Jordan and Iraq,' Mousa said. According to Petra, the project will eventually reach 500 megawatts. Despite its vast oil and gas reserves, Iraq suffers from chronic electricity shortages. At times, especially during the hot summer months, the supply is able to meet only about half the demand. In addition to Jordan, the electricity ministry is working with Gulf countries and Turkey to boost the power supply. In April, the ministry announced it was in talks with Turkey and had signed a contract to double its electricity imports from 300 megawatts to 600 megawatts. For years, Iraq has relied on gas imports from Iran to run its power plants, putting its power grid at the mercy of sanctions waivers from the United States and leaving it vulnerable to periodic cuts in the supply by Iran.
Jordan News
07-05-2025
- Business
- Jordan News
Minister of Energy Follows Up on Reconstruction of Ma'an–Qatra...
اضافة اعلان Jordan's Minister of Energy and Mineral Resources, Dr. Saleh Kharabsheh, accompanied by Dr. Sufian Al-Bataineh, Director General of the National Electric Power Company (NEPCO), and Engineer Ziad Al-Saaydeh, Chairman of the Energy and Minerals Regulatory Commission, visited the Ma'an–Qatraneh 400 kV transmission line site on Wednesday to inspect reconstruction efforts after several towers collapsed during a February to NEPCO's official statement, the minister received a briefing on:Progress made on the project so far,Completion rates, andMaintenance actions undertaken in southern Kharabsheh stressed the urgency of completing the project, highlighting the line's strategic importance for ensuring the stability of Jordan's national Al-Bataineh noted that NEPCO responded immediately after the incident, initiating:An emergency action plan to rebuild the towers,Requests for bids from pre-approved companies, andOperational adjustments and reinforcement of other towers on the also said the project is expected to be completed ahead of schedule, with full re-electrification of the 400 kV additionally reaffirmed the importance of the Green Corridor Project, energized in 2021, which has played a vital role in strengthening grid stability and was a success in NEPCO's strategic Ma'an–Qatraneh 400 kV transmission line sustained tower collapses in February due to severe weather conditions. Fortunately, no power outages were reported at the time.
Zawya
30-04-2025
- Business
- Zawya
Jordan, Saudi Arabia discuss ways to proceed with electricity interconnection
AMMAN — Jordan and Saudi Arabia on Tuesday discussed means to proceed with the electricity interconnection project, as part of efforts to enhance cooperation in the energy sector. The meeting, hosted by Jordan's National Electric Power Company (NEPCO), focused on accelerating key agreements needed to begin implementation, according to the Jordan News Agency, Petra. Senior officials from both sides attended the meeting, including Secretary General of the Ministry of Energy and Mineral Resources Amani Azzam and NEPCO Director General Sofyan Bataineh. The Saudi delegation included senior representatives from the energy sector. According to Bataineh, discussions focused on finalising three main agreements covering implementation, operations and commercial arrangements, which are expected to be signed before the end of 2025, while the project is expected to begin commercial operations by the end of 2029. "This interconnection will enhance the reliability of both kingdoms' electricity grids," said Bataineh, adding that the venture would allow for the sharing of energy reserves and exchanges during peak periods, improving efficiency and stabilising the grid. He added that the project is an important step towards a broader regional electricity market and better Arab energy integration, noting that grid interconnection is 'increasingly' important in renewable energy systems, helping to reduce costs and optimise performance. Highlighting Jordan's strategic goal of becoming a regional hub for energy exchange, Azzam said: "Our ongoing work on cross-border grid projects aims to boost Jordan's position in the regional electricity market". The project stems from a memorandum of understanding signed in August 2020, which tasked NEPCO and the Saudi Electricity Company with drafting the technical and operational agreements, said Petra. The project is part of the wider Arab Electricity Interconnection Initiative, which aims to create a unified electricity market. Jordan has recently hosted one of the initiative's key coordination meetings as momentum builds towards regional energy integration, according to Petra. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
