The Jordanian government intends to borrow about $ 9.8 billion during the next year 2021, to meet the increasing financing needs in light of the repercussions of the new Corona virus pandemic that has exacerbated the accumulated financial difficulties, while the debt ratio is expected to reach 111.7 percent of GDP by the end of this year, especially after it reached about $ 45 billion, both internally and externally, at the end of August.
According to the World Bank, Jordan is expected to witness its worst recession since 1989, as public debt is expected to jump from 98.9% of GDP in 2019 to 111.7% of GDP in 2020, to reach its peak in 2021, then return to the level of 2020 by 2024.
According to the draft budget for next year, about $ 1.15 billion of loans will be in the form of international bonds, and the loans will be used to pay off the public budget deficit and due external and internal loan installments. The government has identified the entities from which it will borrow, which are the Arab Fund for Economic and Social Development, the German government, the World Bank, the International Fund for Agricultural Development, the Saudi Fund for Development, and the Kuwait Fund for Arab Economic Development.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
