Jordan’s public debt servicing to hit USD 1.41bn in 2015

By bne IntelliNews July 16, 2013

Interest payments on Jordan’s public debt will likely increase to JOD 1bn (USD 1.41bn) in 2015 from the current forecast of JOD 800mn for 2013, the finance ministry stated. In 2013, public debt servicing will account for 10.8% of the state budget spending.

The 2013 budget implies JOD 7.4bn in spending and JOD 6.1bn in revenue (including foreign grants set at JOD 850mn). The 2013 state budget thus forecast a deficit of JOD 1.3bn, accounting for 5.4% of the full-year GDP.

Jordan's public debt increased 2.4% ytd to JOD 16.97bn at end-April, accounting for 70.7% of the full-year GDP forecast.

The 2013 state budget forecasts JOD 6.2bn worth of current spending and JOD 1.2bn in capital spending. The wage bill of civil servants is put at JOD 1.56bn, while that of military and security personnel is projected at JOD 1.76bn, according to the budget bill, posted on the finance ministry’s website.

In 2015, the budget deficit to GDP ratio will narrow to 3.5%, the ministry forecasts.

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