Latest news with #SSIF
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
Ammon
21-05-2025
- Business
- 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.
Scoop
04-05-2025
- Business
- Scoop
Boosting High-Tech Exports With Advanced Technology
New investment in advanced technology research will boost high-tech exports, strengthen connections between research and industry and generate high value jobs, Science, Innovation and Technology Minister Dr Shane Reti announced today. 'Advanced technology research leads to life-changing innovation,' says Dr Reti. 'The breakthroughs that can be achieved through areas like cryogenic and quantum science are hugely significant. 'From developing portable MRI machines, to building smaller and faster engines, this investment will enable innovation that has the potential to improve our daily lives, while boosting economic growth in sectors like health, transport, energy and our space industry.' The Government is investing $71 million over seven years into a new advanced technology science platform hosted by the Robinson Research Institute, based out of Victoria University of Wellington. Dr Reti says this funding will not only support innovation that can be turned into economic gains but also maintain critical staff and develop young scientists into world-class innovators. 'Through this new science platform, the Government is investing in the materials and engineering expertise needed to achieve technological breakthroughs and turn innovative ideas into real-world products and services right here in New Zealand,' says Dr Reti. 'This research platform aims to grow New Zealand's hi-tech exports based on cryogenics, superconductors, magnets and processed materials. 'Robinson Research Institute are known for world-leading expertise in superconductors, magnets and materials technologies and proven experience in commercialisation. 'The team will develop workforce capability through internships and postgraduate study and encourage early career researchers to take their ideas beyond the laboratory. 'Projects from the platform will also enhance local and international research and commercial partnerships and encourage international investment into the New Zealand research and development sector. 'I look forward to the contribution this platform will make to growing and diversifying our economy, supporting the development of world-class scientists and innovators and the creation of high-quality jobs for people in New Zealand.' This investment is part of the Government's work to drive economic growth by reforming and refocusing New Zealand's science, innovation and technology system for the future. It is the first step in establishing the new Advanced Technology public research organisation. Notes: The team at the Robinson Research Institute will be working with the Ministry of Business, Innovation and Employment to develop a platform plan and finalise contracting. The investment will be made through the MBIE-administered Strategic Science Investment Fund (SSIF). A SSIF science platform is a combination of people, facilities, information and knowledge that provide a particular strategic on-going science and innovation capability for New Zealand. Details and decisions about what the Advanced Technology public research organisation will look like, its structure, form and function are to come.
Zawya
01-05-2025
- Business
- Zawya
Jordan: Public debt reaches $63bln by February end
AMMAN — Jordan's total public debt reached JD44.804 billion by the end of February 2025, according to figures released by the Ministry of Finance. The figure includes debt owed to the Social Security Investment Fund (SSIF). The ministry reported that public debt now stands at 117.4 per cent of the gross domestic product (GDP). Debt to the SSIF rose to JD10.219 billion in February, up from JD10.110 billion in January, Al Mamlaka TV reported. In January alone, public debt increased by 0.8 per cent, climbing to JD44.509 billion from the level recorded at the end of 2024. The debt-to-GDP ratio also rose to 117.2 per cent in January, compared to 116.8 per cent in December 2024. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Jordan Times
30-04-2025
- Business
- Jordan Times
Public debt reaches JD44.8 billion by February end
AMMAN — Jordan's total public debt reached JD44.804 billion by the end of February 2025, according to figures released by the Ministry of Finance. The figure includes debt owed to the Social Security Investment Fund (SSIF). The ministry reported that public debt now stands at 117.4 per cent of the gross domestic product (GDP). Debt to the SSIF rose to JD10.219 billion in February, up from JD10.110 billion in January, Al Mamlaka TV reported. In January alone, public debt increased by 0.8 per cent, climbing to JD44.509 billion from the level recorded at the end of 2024. The debt-to-GDP ratio also rose to 117.2 per cent in January, compared to 116.8 per cent in December 2024.
