The total public debt in Jordan rose to a record level, reaching 47.8 billion dollars at the end of last April, compared to 47.3 billion dollars in March.
According to public financial data, the public debt ratio of Jordan's GDP reached 107.9 percent until the end of April, compared to 106.9 percent at the end of the first quarter of the same year. While the ratio of the total public debt to the GDP, excluding the debts of the Social Security Investment Fund, amounted to 86.3 percent.
Fitch Ratings affirmed Jordan's long-term credit rating at "BB-Negative" with a "negative" outlook, which confirms the challenges facing the public finances of Jordan, a country that is excessively dependent on international aid. According to the agency, the negative outlook reflects the risk of further deterioration of government debt, amid an uncertain recovery and a difficult social context in the wake of the Corona pandemic.
It also indicated that the high public sector debt is the reason for Jordan's weak main rating; Revealing that debts of GDP, including guarantees, amounted to about 91 percent of GDP during 2020, from about 81 percent in 2019.
Source (The New Arab Newspaper, Edited)
