World Bank: Gulf grant to push Jordan's economy

Home Business World Bank: Gulf grant to push Jordan's economy 13-04-2014 01:10 PM Ammon News - AMMONNEWS - Jordan will benefit from the financial stability that Gulf Cooperation Council countries enjoy as cash will flow to push its sustainable economic growth in 2014 and 2015, according to the World Bank. In its latest report issued on regional economic developments, the Bank said that the Gulf countries pledged to provide $21.5 billion for Arab states going through a transition phase due to the repercussions of the Arab Spring, more than half of which went to Egypt while Jordan received a considerable part. "Jordanian economy is still exposed to external challenges, just like the Egyptian, Lebanese and Tunisian economies," the report added, noting that the regional political and social tensions in addition to the rising debt, the current account deficit and the fiscal deficit deeply affected the internal economies of those countries and made these vulnerable to external shocks. The Bank predicted the economy in Jordan to grow by 3.5 percent during 2014, as estimated by the International Monetary Fund, due to the positive impact of the projects under the Gulf grant which are likely to raise the economic growth to four percent in 2015. *Petra

Home Business

World Bank: Gulf grant to push Jordan's economy

13-04-2014 01:10 PM

Ammon News - AMMONNEWS - Jordan will benefit from the financial stability that Gulf Cooperation Council countries enjoy as cash will flow to push its sustainable economic growth in 2014 and 2015, according to the World Bank.

In its latest report issued on regional economic developments, the Bank said that the Gulf countries pledged to provide $21.5 billion for Arab states going through a transition phase due to the repercussions of the Arab Spring, more than half of which went to Egypt while Jordan received a considerable part.

"Jordanian economy is still exposed to external challenges, just like the Egyptian, Lebanese and Tunisian economies," the report added, noting that the regional political and social tensions in addition to the rising debt, the current account deficit and the fiscal deficit deeply affected the internal economies of those countries and made these vulnerable to external shocks.

The Bank predicted the economy in Jordan to grow by 3.5 percent during 2014, as estimated by the International Monetary Fund, due to the positive impact of the projects under the Gulf grant which are likely to raise the economic growth to four percent in 2015.

*Petra

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