IDEAS home Printed from https://ideas.repec.org/p/cpm/notfdl/2308.html

Assessing the Sustainability of Jordan’s Public Debt

Author

Listed:
  • Tzannatos, Zafiris
  • Saif, Ibrahim

Abstract

This paper examines debt sustainability in Jordan. For now, debt sustainability seems feasible for the next three to four years, but in the future, it will depend on how quickly, consistently, and effectively the reforms will be pursued and whether there will be any adverse external shocks. We conclude that the right policy mix to reduce the debt-to-GDP ratio should focus on policies that promote economic growth, rationalize – not necessarily reduce – public expenditures, raise revenues in a non-regressive way, and take into account several implicit liabilities such as those arising from the pension system and climate change adaptation measures.

Suggested Citation

  • Tzannatos, Zafiris & Saif, Ibrahim, 2023. "Assessing the Sustainability of Jordan’s Public Debt," FDL Policy Notes 2308, CEPREMAP.
    • Handle: RePEc:cpm:notfdl:2308
    as

    Download full text from publisher

    File URL: https://findevlab.org/wp-content/uploads/2023/11/FDL_ERF_Jordan_Paper.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ms. Natalia T. Tamirisa & Mr. Christoph Duenwald, 2018. "Public Wage Bills in the Middle East and Central Asia," IMF Departmental Papers / Policy Papers 2018/001, International Monetary Fund.
    2. Mendoza, Enrique G. & Ostry, Jonathan D., 2008. "International evidence on fiscal solvency: Is fiscal policy "responsible"?," Journal of Monetary Economics, Elsevier, vol. 55(6), pages 1081-1093, September.
    3. Ardagna Silvia & Caselli Francesco & Lane Timothy, 2007. "Fiscal Discipline and the Cost of Public Debt Service: Some Estimates for OECD Countries," The B.E. Journal of Macroeconomics, De Gruyter, vol. 7(1), pages 1-35, August.
    4. Djavad Salehi-Isfahani & Nadia Hassine & Ragui Assaad, 2014. "Equality of opportunity in educational achievement in the Middle East and North Africa," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 12(4), pages 489-515, December.
    5. Assaad, Ragui & Hendy, Rana & Salehi-Isfahani, Djavad, 2019. "Inequality of opportunity in educational attainment in the Middle East and North Africa: Evidence from household surveys," International Journal of Educational Development, Elsevier, vol. 66(C), pages 24-43.
    6. David Cuberes & Marc Teignier, 2012. "Gender Gaps in the Labor Market and Aggregate Productivity," Working Papers 2012017, The University of Sheffield, Department of Economics.
    7. Ha, Jongrim & Kose, M. Ayhan & Ohnsorge, Franziska, 2023. "One-stop source: A global database of inflation," Journal of International Money and Finance, Elsevier, vol. 137(C).
    8. Ragui Assaad & Caroline Krafft & Irene Selwaness, 2022. "The Impact of Marriage on Women's Employment in the Middle East and North Africa," Feminist Economics, Taylor & Francis Journals, vol. 28(2), pages 247-279, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ragui Assaad & Caroline Krafft & John Roemer & Djavad Salehi-Isfahani, 2016. "Inequality of Opportunity in Income and Consumption: the Middle East and North Africa Region in Comparative Perspective," Working Papers 1003, Economic Research Forum, revised May 2016.
    2. Islam Khalil & Debdulal Mallick & Aaron Nicholas, 2025. "Does Less Education Harm Health? Evidence From a Natural Experiment in a Developing Country," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 87(4), pages 751-770, August.
    3. Assaad, Ragui & Krafft, Caroline, 2015. "Is free basic education in Egypt a reality or a myth?," International Journal of Educational Development, Elsevier, vol. 45(C), pages 16-30.
    4. Hughes Hallett, Andrew, 2019. "Fiscal governance after the financial crisis: A review," Economic Analysis and Policy, Elsevier, vol. 64(C), pages 54-63.
    5. Daniel Ruiqi Wang & David P Hajjar & Curtis L Cole, 2020. "International Partnerships for the Development of STEM and Medical Education of Middle Eastern Women," International Journal of Higher Education, Sciedu Press, vol. 9(2), pages 1-1, April.
    6. Reham Rizk & Ronia Hawash, 2020. "Education Gap and Youth: A Growing Challenge in The MENA Region," Working Papers 1394, Economic Research Forum, revised 20 May 2020.
    7. Ragui Assaad & Caroline Krafft & John Roemer & Djavad Salehi-Isfahani, 2016. "Inequality of Opportunity in Income and Consumption in Egypt," Working Papers 1002, Economic Research Forum, revised May 2016.
    8. Dennis Bonam & Jasper Lukkezen, 2019. "Fiscal and Monetary Policy Coordination, Macroeconomic Stability, and Sovereign Risk Premia," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 51(2-3), pages 581-616, March.
    9. Casalin, Fabrizio & Dia, Enzo & Hughes Hallett, Andrew, 2020. "Public debt dynamics with tax revenue constraints," Economic Modelling, Elsevier, vol. 90(C), pages 501-515.
    10. John Farrugia & Owen, Grech, 2013. "Assessing the sustainability of Maltese government debt," CBM Working Papers WP/04/2013, Central Bank of Malta.
    11. Caroline Krafft & Ragui Assaad, 2016. "Inequality of Opportunity in the Labor Market for Higher Education Graduates in Egypt and Jordan," International Economic Association Series, in: Ishac Diwan & Ahmed Galal (ed.), The Middle East Economies in Times of Transition, chapter 5, pages 159-185, Palgrave Macmillan.
    12. Krafft, Caroline & Alawode, Halimat, 2018. "Inequality of opportunity in higher education in the Middle East and North Africa," International Journal of Educational Development, Elsevier, vol. 62(C), pages 234-244.
    13. Anis Ochi & Yosra Saidi, 2022. "Do Tunisian Children Have an Equal Chance to Access to School 8 Years After Revolution?," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(3), pages 2007-2029, September.
    14. Leonardo Villar-Gómez & Javier Gómez & Andrés Murcia Pabón & Wilmar Cabrera & Hernando Vargas, 2023. "The monetary and macroprudential policy framework in Colombia in the last 30 years: lessons learnt and challenges for the future," BIS Papers chapters, in: Bank for International Settlements (ed.), Central banking in the Americas: Lessons from two decades, volume 127, pages 87-112, Bank for International Settlements.
    15. Gerardo Manzo & Antonio Picca, 2020. "The Impact of Sovereign Shocks," Management Science, INFORMS, vol. 66(7), pages 3113-3132, July.
    16. Cuesta, Lizeth & Ruiz, Yomara, 2021. "Efecto de la globalización sobre la desigualdad. Un estudio global para 104 países usando regresiones cuantílicas [Effect of globalization on inequality. A global study for 104 countries using quantile regressions]," MPRA Paper 111022, University Library of Munich, Germany.
    17. Peppel-Srebrny, Jemima, 2021. "Not all government budget deficits are created equal: Evidence from advanced economies' sovereign bond markets," Journal of International Money and Finance, Elsevier, vol. 118(C).
    18. Zijun Wang & Andrew J. Rettenmaier, 2008. "Deficits, Explicit Debt, Implicit Debt, and Interest Rates: Some Empirical Evidence," Southern Economic Journal, John Wiley & Sons, vol. 75(1), pages 208-222, July.
    19. Gergely Kicsák, 2017. "Developments in Government Interest Expenditure for Hungary, 2000–2015," Financial and Economic Review, Magyar Nemzeti Bank (Central Bank of Hungary), vol. 16(1), pages 46-73.
    20. Sergey Pekarski, 2017. "Tight Money and the Sustainability of Public Debt," International Journal of Central Banking, International Journal of Central Banking, vol. 13(1), pages 191-223, February.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cpm:notfdl:2308. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Martin Kessler (email available below). General contact details of provider: https://edirc.repec.org/data/ceprefr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.