Rising levels debt is further bad news for Jordan’s troubled economy
Jordan’s public debt rose by 17 per cent in the first eight months of 2012, highlighting the country’s continued economic woes.
The figure of JD15.7bn ($22.2bn) marked a considerable rise on the JD13.4bn-worth of public debt reported at the end of 2011, according to the Finance Ministry.
Increased borrowing from local banks rose accounted for more than JD2bn of the latest figure.
Jordan currently owes more than $5bn to foreign lenders, with the World Bank accounting for more than 20 per cent of this figure.
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