Fitch Ratings has raised its expectations for Jordan's credit rating from negative to stable, indicating that this assessment reflects the Kingdom's progress in strengthening the financial situation and economic recovery after the pandemic.
In this context, the Jordanian Finance Minister Mohamad al-Ississ said that "the Fitch's raising of its expectations for the Kingdom's credit rating reflects the strength of financial policies, and shows that the difficult structural reforms supported by the IMF will succeed."
The balance of public debt owed by Jordan increased by 0.8 percent to 26.7 billion dinars (37.6 billion dollars) in the first two months of this year, compared to 26.49 billion dinars at the end of 2020. Statistics issued by the Ministry of Finance showed that Jordan’s internal debt reached 13.6 billion dinars at the end of February, and the external about 13.06 billion dinars.
Jordan's public debt is equivalent to 85.6 percent of the Kingdom's gross domestic product. Whereas, the Ministry of Finance had changed its methodology in calculating the public debt, with the exception of debts from the Social Security Investment Fund, which amount to approximately seven billion dinars.
Source (Al-Arabiya.net Website, Edited)
