Ammon News - The Central Bank of Jordan (CBJ) expects inflation rates in Jordan to stabilize during the current year 2024, remaining at 2.1%, the level recorded last year 2023, compared to 4.2% in 2022.

The balanced economic policies of the CBJ and the government over the past two years have contributed to containing and controlling inflationary pressures in the Kingdom, according to the Financial Stability Report issued by the bank.

The consumer price index (inflation) for the first seven months of 2024 rose by 1.70% compared to the same period in 2023, according to Al-Mamlaka.

Standard & Poor's announced raising Jordan's long-term local and foreign currency sovereign credit rating from B+ to BB- with a stable outlook, for the first time in 21 years despite external global and regional shocks.

The rating upgrade comes as a result of the public finance management remaining on track despite the challenges facing the government due to the war on Gaza and achieving its goals during the past year by reducing the ratio of the primary deficit to the gross domestic product, one of the important factors that prompted the agency to raise Jordan’s credit rating.