Latest news with #SocialSecurityInvestmentFund
Zawya
3 days ago
- Business
- Zawya
Jordan: SSIF total assets rise to $24bln in H1 2025
AMMAN — The Social Security Investment Fund's (SSIF) total assets increased by JD1.2 billion to JD17.3 billion as of June 30, representing a 7.2 per cent increase and one of the 'strongest' semi-annual performances in the fund's history. In the first half of 2025, SSIF delivered a 'pivotal' performance that underscored its evolving role as a cornerstone in Jordan's financial and economic system, according to an SSIF statement to The Jordan Times. The robust financial results were underpinned by a 119 per cent year-on-year increase in comprehensive income, which reached JD1.1 billion from JD487 million during the same period last year, the fund said. This comprised JD591 million in net returns from investment activities and JD473 million in unrealised gains on the revaluation of strategic equity holdings. An additional JD109 million in actuarial surplus was transferred from the Social Security Corporation, SSIF noted. Net returns from investment portfolios increased by 15 per cent compared to the first half of 2024, driven primarily by bonds of JD296 million, equities of JD207 million, and money market placements JD70 million, in addition to the income real estate and loans portfolios. The fund's share of dividend income from 2024 corporate profits exceeded JD191 million, the highest in its history, reflecting not only robust corporate performance but also the SSIF's rising influence within Jordan's capital markets. These dividends contribute to increased liquidity, enhanced investor confidence, and a more resilient investment environment, reinforcing the foundations for sustainable national growth. As of mid-year, 2025, the fund's portfolio was allocated as follows: bonds 57 per cent, equities 17.1 per cent, money market instruments 14.1 per cent, real estate 5.2 per cent, loans 3.3 per cent, and tourism assets 1.9 per cent. Chairman of the Investment Board Omar Malhas said that the fund's performance marks a 'turning point' in its institutional role; from a conventional asset manager to a proactive, long-term investor shaping national economic priorities. He underscored the SSIF's strategic shift through revised investment priorities, deeper integration in productive sectors, and a focus on high-impact initiatives such as the planned co-financing of the National Water Carrier Project, Jordan's most ambitious infrastructure undertaking to date. Malhas highlighted that this transformation is anchored in disciplined decision-making supported by rigorous financial and technical evaluations. SSIF's investment processes are calibrated towards long-term value creation, insulated from short-term volatility, and aligned with national objectives, he said. Malhas noted that the government's decision to prioritise SSIF as a core investor in flagship development projects signals confidence in the fund's institutional capacity to structure impactful, commercially viable partnerships. He pointed out that this strategic positioning enhances SSIF's stature as a driver of inclusive growth, while also reinforcing its relevance to regional and global investors seeking stable, mission-aligned opportunities. SSIF CEO Izzaldeen Kanakrieh stressed that the fund's 'strong' earnings continue to support sustained asset growth and broader institutional credibility. He described the current phase as one defined by a 'deepening of strategic partnerships,' backed by growing confidence from public and private sector stakeholders. Kanakrieh noted that SSIF operates under a forward-leaning institutional mandate that highlights the early identification and pursuit of high-impact investment opportunities. In recent months, the fund submitted expressions of interest to relevant ministries and national corporations to explore potential collaboration in proposed initiatives across the transport, education and mining sectors, the CEO noted. He added that these efforts are embedded within an integrated governance model consistent with SSIF's long-term vision and the broader goals of the Economic Modernisation Vision. By channelling capital into high-productivity, value-generating sectors, Kanakrieh said that the SSIF strengthens the resilience of the social security system while reinforcing national competitiveness. SSIF is currently updating its strategic plan for the coming years with the aim of responding to economic shifts and capitalising on emerging investment opportunities, said the statement. This includes a comprehensive reassessment of investment priorities, with renewed emphasis on channelling resources towards high-value, productivity-driven sectors. Through this integrated approach, SSIF continues to institutionalise performance excellence, align capital with strategic national priorities, and consolidate its position as a trusted long-term steward of public capital, delivering economic value, financial stability, and developmental impact for generations to come. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Jordan News
4 days ago
- Business
- Jordan News
SSIF Assets Reach JD17.3 Billion in H1 2025, Net Income Hits JD591 Million - Jordan News
The Social Security Investment Fund (SSIF) recorded an unprecedented increase in its total assets during the first half of 2025, rising by JD1.2 billion to reach JD17.3 billion by the end of June, a 7.2 percent growth compared to the end of 2024. اضافة اعلان According to a statement issued by the Fund, this expansion was driven primarily by a surge in comprehensive income, which reached approximately JD1.1 billion, compared to JD487 million during the same period last year, a 119 percent increase. The growth also included the transfer of an insurance surplus from the Social Security Corporation amounting to JD109 million. Comprehensive income comprises a net income of JD591 million and an increase in the valuation of the Fund's strategic equity portfolio by approximately JD473 million. Net returns from various investment portfolios rose by nearly 15 percent year-on-year, with primary contributions from the bond portfolio (JD296 million), the equity portfolio (JD207 million), and money market instruments (JD70 million), in addition to income generated from loan and real estate investment portfolios. The Fund also received a record JD191 million in cash dividends from corporate earnings in 2024, marking the highest distribution in its history. These returns reflect enhanced financial performance among leading companies, particularly those in which the Fund is a strategic shareholder. Beyond their direct monetary impact, these returns support the performance of the Amman Stock Exchange and bolster the confidence of both domestic and foreign investors, strengthening Jordan's investment climate and economic resilience in the medium and long term. The Fund's asset distribution by portfolio was as follows: 57 percent in bonds, 17.1 percent in equities, 14.1 percent in money market instruments, 5.2 percent in real estate, 3.3 percent in loans, and 1.9 percent in tourism investments. Chairman of the Board of Investment Omar Malhas underscored the Fund's evolving role from a traditional institutional investor to a proactive economic stakeholder, aligned with national growth and sustainability goals. He highlighted the Fund's repositioning strategy, which includes revised investment priorities, sector diversification, and active participation in major national projects, notably the national carrier water project. Malhas noted that this transformation encompasses both the scale of investment and the methodology, with decisions grounded in disciplined technical studies and long-term financial analysis, avoiding short-term volatility. He added that the government views the Fund as a reliable partner for financing strategic projects, a role that enhances its status as a national institution with broad economic and social influence. SSIF Chairman Ezzedine Kanakrieh affirmed the Fund's continued record profitability, citing first-half 2025 financials as proof of sustained growth. He noted that investor confidence, both local and regional, has contributed to expanding investment partnerships across multiple sectors. Kanakrieh said the Fund has adopted a proactive investment strategy aimed at identifying and pursuing viable opportunities. Letters of interest were recently sent to relevant ministries and companies signaling readiness to engage in high-impact projects in the transport, education, and mining sectors. He stressed that the Fund's initiatives fall within an institutional framework aligned with the Economic Modernization Vision, focusing on resource allocation to high-value sectors, maximizing returns, and enabling the Social Security Corporation to meet its long-term obligations to beneficiaries. The Fund is currently updating its strategic plan to align with evolving economic dynamics and optimize the deployment of capital. The update includes a comprehensive review of investment priorities to ensure alignment with national development objectives. Efforts will continue to enhance investment and operational efficiency, supporting the sustainability of the social security system, strengthening the Fund's financial position, and delivering sustainable, high-quality returns in line with Jordan's long-term economic aspirations.
Jordan Times
4 days ago
- Business
- Jordan Times
SSIF total assets rise to JD17.3b in H1 2025
AMMAN — The Social Security Investment Fund's (SSIF) total assets increased by JD1.2 billion to JD17.3 billion as of June 30, representing a 7.2 per cent increase and one of the 'strongest' semi-annual performances in the fund's history. In the first half of 2025, SSIF delivered a 'pivotal' performance that underscored its evolving role as a cornerstone in Jordan's financial and economic system, according to an SSIF statement to The Jordan Times. The robust financial results were underpinned by a 119 per cent year-on-year increase in comprehensive income, which reached JD1.1 billion from JD487 million during the same period last year, the fund said. This comprised JD591 million in net returns from investment activities and JD473 million in unrealised gains on the revaluation of strategic equity holdings. An additional JD109 million in actuarial surplus was transferred from the Social Security Corporation, SSIF noted. Net returns from investment portfolios increased by 15 per cent compared to the first half of 2024, driven primarily by bonds of JD296 million, equities of JD207 million, and money market placements JD70 million, in addition to the income real estate and loans portfolios. The fund's share of dividend income from 2024 corporate profits exceeded JD191 million, the highest in its history, reflecting not only robust corporate performance but also the SSIF's rising influence within Jordan's capital markets. These dividends contribute to increased liquidity, enhanced investor confidence, and a more resilient investment environment, reinforcing the foundations for sustainable national growth. As of mid-year, 2025, the fund's portfolio was allocated as follows: bonds 57 per cent, equities 17.1 per cent, money market instruments 14.1 per cent, real estate 5.2 per cent, loans 3.3 per cent, and tourism assets 1.9 per cent. Chairman of the Investment Board Omar Malhas said that the fund's performance marks a 'turning point' in its institutional role; from a conventional asset manager to a proactive, long-term investor shaping national economic priorities. He underscored the SSIF's strategic shift through revised investment priorities, deeper integration in productive sectors, and a focus on high-impact initiatives such as the planned co-financing of the National Water Carrier Project, Jordan's most ambitious infrastructure undertaking to date. Malhas highlighted that this transformation is anchored in disciplined decision-making supported by rigorous financial and technical evaluations. SSIF's investment processes are calibrated towards long-term value creation, insulated from short-term volatility, and aligned with national objectives, he said. Malhas noted that the government's decision to prioritise SSIF as a core investor in flagship development projects signals confidence in the fund's institutional capacity to structure impactful, commercially viable partnerships. He pointed out that this strategic positioning enhances SSIF's stature as a driver of inclusive growth, while also reinforcing its relevance to regional and global investors seeking stable, mission-aligned opportunities. SSIF CEO Izzaldeen Kanakrieh stressed that the fund's 'strong' earnings continue to support sustained asset growth and broader institutional credibility. He described the current phase as one defined by a 'deepening of strategic partnerships,' backed by growing confidence from public and private sector stakeholders. Kanakrieh noted that SSIF operates under a forward-leaning institutional mandate that highlights the early identification and pursuit of high-impact investment opportunities. In recent months, the fund submitted expressions of interest to relevant ministries and national corporations to explore potential collaboration in proposed initiatives across the transport, education and mining sectors, the CEO noted. He added that these efforts are embedded within an integrated governance model consistent with SSIF's long-term vision and the broader goals of the Economic Modernisation Vision. By channelling capital into high-productivity, value-generating sectors, Kanakrieh said that the SSIF strengthens the resilience of the social security system while reinforcing national competitiveness. SSIF is currently updating its strategic plan for the coming years with the aim of responding to economic shifts and capitalising on emerging investment opportunities, said the statement. This includes a comprehensive reassessment of investment priorities, with renewed emphasis on channelling resources towards high-value, productivity-driven sectors. Through this integrated approach, SSIF continues to institutionalise performance excellence, align capital with strategic national priorities, and consolidate its position as a trusted long-term steward of public capital, delivering economic value, financial stability, and developmental impact for generations to come.
Jordan News
19-07-2025
- Business
- Jordan News
Jordan's Steady Fiscal Path: A Balanced Approach to Growth and Debt Management - Jordan News
Amid ongoing global and regional economic uncertainty, Jordan continues to make meaningful strides in strengthening its fiscal position and preserving macro-financial stability. Recent figures underscore the effectiveness of the government's disciplined approach to debt management, fiscal consolidation, and monetary stability — all of which reaffirm investor confidence in Jordan's economic trajectory. اضافة اعلان According to the latest data released by the Ministry of Finance, by the end of June 2025, Jordan's public debt (net of Social Security Investment Fund holdings) had declined to approximately JD 35.3 billion, bringing the debt-to-GDP ratio down to 91%, a gradual but important improvement from the 93% level recorded earlier in the year. This reflects the government's prudent debt strategy, which favors diversified, lower-cost financing tools such as sukuk issuance and concessional borrowing, while simultaneously reducing exposure to high-yield international debt markets during a period of elevated global interest rates. On the monetary front, foreign reserves remain solid at USD 22 billion, offering comfortable coverage of 8 to 9 months of imports, while gold reserves have expanded to JD 5.455 billion, highlighting the central bank's proactive reserve management in response to persistent geopolitical and economic uncertainties. In terms of real economic performance, the Jordanian economy continues to show signs of resilience. GDP growth reached 2.7% in the first quarter of 2025, supported by structural reforms aimed at enhancing competitiveness and stimulating private sector activity. Inflation remains contained at 1.98%, underscoring the credibility of the Central Bank's monetary policy framework. Nonetheless, external sector imbalances persist, with the current account deficit standing at 7.7% of GDP — highlighting the need for continued efforts to boost export capacity and reduce reliance on energy imports. At the policy level, Jordan has maintained a careful balance between fiscal responsibility and social stability under the leadership of His Excellency Prime Minister Dr. Jafar Hassan and his economic team. Recent government initiatives — including tax reductions on vehicles, expanded healthcare allocations, and full coverage for cancer treatment — reflect a pragmatic policy approach. These efforts aim to mitigate the social impact of reform while staying aligned with the broader objectives of the Economic Modernization Vision. On the international front, Jordan's reform progress continues to receive strong recognition. The International Monetary Fund (IMF) recently concluded its third successful review under the Extended Fund Facility (EFF), unlocking a cumulative USD 595 million in disbursements to date. The Fund has commended Jordan's commitment to sound macroeconomic policies, structural reform, and fiscal discipline — all designed to build resilience, accelerate growth, and enhance job creation. A Model of Measured Reform Jordan's current trajectory showcases a measured and credible model of fiscal consolidation and structural reform. Amid heightened global volatility, the Kingdom's ability to preserve monetary stability, improve debt dynamics, and maintain steady growth signals a policy framework rooted in resilience, discipline, and long-term strategic clarity — a framework that continues to reinforce Jordan's reputation as a reliable and stable destination for investment in an otherwise uncertain region.
Ammon
21-05-2025
- Business
- Ammon
Public debt rises to JD35.08 billion in Q1 2025
Ammon News - The government debt reached JD35.080 billion by the end of March 2025, equivalent to 91.5 percent of the estimated GDP, excluding holdings by the Social Security Investment Fund (SSIF). This figure marks an increase from JD34.178 billion recorded at the end of 2024, or 90.2 percent of GDP, and includes liabilities from the National Electric Power Company and the Water Authority totaling around JD8.8 billion. According to the Ministry of Finance's monthly bulletin, the temporary rise in debt is primarily due to the government securing soft loans at "competitive" interest rates, which were deposited with the Central Bank of Jordan to repay Eurobonds maturing in June. The external public debt (budget and guaranteed), excluding SSIF's holdings, reached approximately JD19.6 billion by the end of March equivalent to 51.2 percent of GDP compared to JD19.335 billion at the end of 2024. Meanwhile, domestic debt stood at around JD15.4 billion, or 40.2 percent of GDP, up from JD14.8 billion (39.2 percent) at the close of last year. In terms of servicing external debt, interest payments in March amounted to JD24.4 million, while principal repayments reached JD56 million. On the fiscal performance front, total general revenues during the first quarter of 2025 amounted to JD2.163 billion, an increase of JD103 million (5 percent) compared to JD2.060 billion during the same period last year. Additionally, total government expenditures went up to JD2.7 billion from JD2.488 billion, marking a rise of JD212 million (8.5 percent). This increase was driven by higher current expenditures (up JD147 million or 6.2 percent) and a significant rise in capital expenditures (up JD65 million or 65.2 percent). These developments led to a fiscal deficit of JD537 million in the central government's budget after grants, compared to JD428.8 million during the first quarter of 2024. Before accounting for grants, the deficit reached JD540.4 million, up from JD478.3 million for the same period last year.
