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Jordan's public debt surpasses $70B
Jordan's public debt has risen to approximately $70.7 billion, representing 110.8% of the GDP. This marks an increase compared to 2021 levels and is attributed to accumulated debt resulting from internal and external factors such as the Syrian crisis, the gas cutoff from Egypt, and the repercussions of the COVID-19 pandemic. The continued rise in debt poses a significant challenge, consuming a large portion of the budget revenues—particularly the debt service costs, which amount to two billion dinars annually—thereby reducing resources available for essential services and investments. Experts emphasize the importance of effective debt management through diversifying financing tools and achieving genuine economic growth that surpasses the costs of debt service. This approach aims to alleviate the financial burden by improving borrowing practices and increasing revenues through tax reforms and diversification of funding sources.
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