Public debt decreased by JD244m in January — Finance Ministry

AMMAN — The public debt in January decreased by JD244 million, after the government paid off local bonds with a value of JD311 million, the Finance Ministry said on Tuesday.

The ministry said that the public debt account witnessed a decrease after excluding the share of the Social Security Investment Fund compared with its level in 2021 by JD244 million to reach some JD28.519 billion, which equals 88.3 per cent of the estimated GDP for January, the Jordan News Agency, Petra, reported.

The ministry attributed the decrease to the government's repayment of due bonds and Treasury bills worth JD311 million as opposed to new issuances of JD175 million, which led to a drop in domestic debts by JD136 million that was pumped as liquidity on the local market.

The ministry also said that the National Electric Power Company (NEPCO) has paid overdue amounts and there was a drop in bank facilities for NEPCO and the Water Authority of Jordan by JD40 million. 

The foreign debt dropped by JD68 million after the government paid overdue amounts and a drop in the exchange rate of currencies compared to the US dollar.