Jordan's debt rises 12.9% in 2009 to $13.6bn

02 March 2010

Figures released by the Jordanian finance ministry have revealed the kingdom's gross domestic and foreign debt rose 12.9% to JD9.66bn ($13.6bn) in 2009 against the previous year, Reuters has reported. Foreign debt, mostly to major Western donors and international financial institutions, rose by 6% to JD3.869bn at end of December against JD3.64bn at the end of 2008, the data showed. Public debt is expected to reach beyond a record $14bn this year, nearing a legal limit of 60% of GDP, as recession reduces local revenue and foreign aid.

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