ammonnews.net

Ammon News - The Open Market Operations Committee at the Central Bank of Jordan (CBJ) decided, in its second meeting this year, to maintain interest rates on monetary policy tools at their current level without change.

During the meeting on Thursday, the committee discussed the economic and monetary developments in the Kingdom, which reflected the strength of the national economy and its ability to continue the momentum of positive performance, despite the prevailing conditions in the region.

The CBJ's foreign reserves currently amount to $18.2 billion, which is enough to cover the Kingdom's imports of goods and services for 7.9 months.

Deposits in banks increased at the end of January 2024 by about JD2 billion, with a growth of 4.6% on an annual basis, to reach JD44 billion.

Credit facilities granted in dinars by banks increased by about JD727.4 million, with a growth of 2.5% on an annual basis, while the latest indicators of financial strength, as they are at the end of 2023, confirm that the Jordanian banking system enjoys strength and resilience.

The balanced economic policies implemented by the government and the CBJ contributed to containing inflationary pressures in the Kingdom, as the inflation rate reached 2.1% during the year 2023, down from 4.2% in 2022, and the inflation rate continued to decline during the first two months of the current year to 1.8%.

The CBJ's expectations indicate that the national economy will achieve a real economic growth rate of no less than 2.6% for the year 2023, an increase of 0.2% points from its level recorded last year.

Preliminary data indicate a significant decline in the current account deficit in the balance of payments to about 3.7% of GDP in 2023, compared to 7.8% in 2022.