Jordan's economy still recovering despite regional challenges: Qatar National Bank

Home Business Jordan's economy still recovering despite regional challenges: Qatar National Bank 21-05-2015 08:10 PM Ammon News - AMMONNEWS - Jordan's economy continued to recover despite regional turmoil and global economy weaknesses, a report titled ''2015 Jordan Economic Insight'' by the Qatar National Bank (QNB) said . The report, which was recently released said, ''The Kingdom's Gross Domestic Production (GDP), will accelerate by 4 percent this year and will gain an additional momentum in 2016 – 2017 by a percentage of 4.3 and 4.5, respectively, as a result of the economic reforms.'' The real GDP grew 3.1 percent in 2014, compared to 2.8 percent in 2013, driven by a continued recovery in mining and quarrying as well as strong growth in agriculture and construction, the report added. Lower energy and food prices are expected to slow inflation down to 0.8 percent in 2015. A projected rise in global commodity prices in 2016 – 2017 and stronger domestic demand is expected to push inflation up 2 percent in 2016 and 2.5 percent in 2017. Despite a difficult geopolitical context and a weak global economy, Jordan continues to recover helped by lower oil prices, International Monetary Fund (IMF) support and Gulf Cooperation Council (GCC) grants.

Home Business

Jordan's economy still recovering despite regional challenges: Qatar National Bank

21-05-2015 08:10 PM

Ammon News - AMMONNEWS - Jordan's economy continued to recover despite regional turmoil and global economy weaknesses, a report titled ''2015 Jordan Economic Insight'' by the Qatar National Bank (QNB) said .

The report, which was recently released said, ''The Kingdom's Gross Domestic Production (GDP), will accelerate by 4 percent this year and will gain an additional momentum in 2016 – 2017 by a percentage of 4.3 and 4.5, respectively, as a result of the economic reforms.'' The real GDP grew 3.1 percent in 2014, compared to 2.8 percent in 2013, driven by a continued recovery in mining and quarrying as well as strong growth in agriculture and construction, the report added.

Lower energy and food prices are expected to slow inflation down to 0.8 percent in 2015.

A projected rise in global commodity prices in 2016 – 2017 and stronger domestic demand is expected to push inflation up 2 percent in 2016 and 2.5 percent in 2017.

Despite a difficult geopolitical context and a weak global economy, Jordan continues to recover helped by lower oil prices, International Monetary Fund (IMF) support and Gulf Cooperation Council (GCC) grants.

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