Due to external shocks, the country has suffered increasing deficits -primarily as a consequence of a sharp increase in the price of energy. The increasing deficits have been financed via borrowing resulting in a steep increase in the debt stock since 2009 and a breach of the fiscal ceiling set by the government at 60% of GDP. Since May 2012, the authorities have taken measures as part of their programme to stabilise the economy and address Jordan’s economic vulnerabilities (International Monetary Fund, 2012).