World Bank forecasts 3.1% growth for Jordan

Home Business World Bank forecasts 3.1% growth for Jordan 11-10-2016 09:58 AM Ammon News - AMMONNEWS - Jordan's economic growth is expected to improve at 3.1 per cent by 2018, compared to 2.3 per cent this year, according to figures released by the World Bank. Nevertheless, growth is projected to average at 2.7 per cent over 2016-2018, despite the slowdown in the economy last year due to the regional turmoil, with unemployment reaching a new high recently, the data showed. The global financial institution projected that the national economy would remain flat at 2.3 per cent in 2016, and assumed no further security deterioration due to regional instability. Further, confidence in Jordan's macroeconomic framework will increase, owing it to a 2016--2019 fiscal correctional and structural programme agreed with the International Monetary Fund (IMF) in June. The programme envisions three key areas: increased grants and aid, reduced government expenditures and rising revenues through a better tax collection approach and reform of state resources.

Home Business

World Bank forecasts 3.1% growth for Jordan

11-10-2016 09:58 AM

Ammon News - AMMONNEWS - Jordan's economic growth is expected to improve at 3.1 per cent by 2018, compared to 2.3 per cent this year, according to figures released by the World Bank.

Nevertheless, growth is projected to average at 2.7 per cent over 2016-2018, despite the slowdown in the economy last year due to the regional turmoil, with unemployment reaching a new high recently, the data showed.

The global financial institution projected that the national economy would remain flat at 2.3 per cent in 2016, and assumed no further security deterioration due to regional instability.

Further, confidence in Jordan's macroeconomic framework will increase, owing it to a 2016--2019 fiscal correctional and structural programme agreed with the International Monetary Fund (IMF) in June.

The programme envisions three key areas: increased grants and aid, reduced government expenditures and rising revenues through a better tax collection approach and reform of state resources.

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