Ammon News - Jordan’s real GDP is expected to grow 2.1 per cent in 2022, and by 2.3 per cent in 2023 and 2024, the World Bank (WB)'s latest Global Economic Prospects report showed.

At the global level, the report forecasted a decline from 5.7 per cent in 2021 to 2.9 percent in 2022 - much lower than the 4.1 per cent expected in January.

It is also expected that global growth will continue to swing around that rate during 2023 and 2024, as the war in Ukraine has disrupted economic activity, investment and trade in the short term, and weakened pent-up demand, as well as ending the accommodative fiscal and monetary policies, the Covid-19 pandemic and the Russian-Ukrainian war.

The World Bank projected that the per capita income in developing economies this year will remain about 5 per cent, lower than its rate before the outbreak of the Covid-19 pandemic.


Global inflation is expected to fall next year, but will likely remain above inflation targets in many economies.

The report indicates that if inflation remains high, repeat decisions of the previous stagflation period could translate into a sharp decline in global economic activity along with financial crises in some emerging market and developing economies.