(MENAFN) The Kingdom of Jordan announced an increase in public debt, reaching USD29.45 billion in the first quarter of the year, which represents 76.8 percent the country's GDP, Jordan News Agency reported.
The announcement was made by the Ministry of Finance, which also said that the total public debt was USD29.03 billion in the fourth quarter of last year, which is equivalent to 80.8 percent of GDP back then.
The public debt net balance comprises the loans that were taken to patch up the shortfall of the National Electric Power Company (NEPCO), which reached USD6.65 billion, or 17.5 percent of GDP.
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