Last week, the Ministry of Finance announced that the total national debt amounted to the end of 2018, 63.8 billion Jordanian dinars or the equivalent of 89.8 billion dollars.

The national debt includes according to the financial report, the internal and external debt of the government, and the private debt of local banks.

Apart from the term "Jordanian national debt" the term you feel you are in front of a vast continent, with complex investment environments, and away from the entanglement of figures provided by the Ministry of Finance, which unfortunately increased the general vision, but what exactly "financial" ?

The fact remains that the government debt until the end of 2018 amounted to 28.5 billion dinars. The term "national debt" and its ambiguity were something new for Jordanians.

What is going on? And what are the reasons why the government to leak or disclose these figures away from giving an explanation!

Until the moment, the answer is still in the unseen, and it is certainly the task of economists to look for reasons, try to understand what the government is seeking, or what you want to say.

As economists we say that religion alone does not mean much if there is capital spending in development projects in which the labor force, and most importantly that there is a revenue verified to enable the borrower to pay.

In the case of government, debt has gone to pay interest and previous loans, there is no capacity to repay due to high deficits and weak growth, not to mention private sector competition in locally available loans, which further increases the economic downturn.

In the case of the private sector, the latter is borrowing to create projects and labor, and if governments do, the debt would be healthy. Above all, the policy of governments based on raising taxes and fees and their levirate-based planning will not keep the economic sectors a chance to borrow. Has been able to repay these loans because of the economic downturn.

Figures presented by the government to Mashhad say the following: There are no transient economic plans for governments, no economic team plans and the economic sector is involved, which led to a defect that was one of the important reasons that led to all this economic chaos that we suffer from.

The manner in which the national debt was introduced in Jordan is a matter of long pause and even considered as one of the smart methods to mitigate the expected shock of such information.

I do not say this in the context of praise, but I mean that the intelligence shown by the official sometimes, in the "passing" of some information, or policies, seems to be a violation of the customs of the government.

* Head of "Made in Jordan" campaign and writer in economic affairs

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