ammonnews.net

Ammon News - According to data released by the Central Bank of Jordan, the foreign reserves of the Central Bank stood at $20.4 billion at the close of October 2024, sufficient to finance over 8 months of the Kingdom's imports of goods and services.

The information showed a decrease and steadiness in the inflation rate, which reached 1.6% in the first three quarters of 2024.

At the end of September 2024, bank deposits rose by approximately 3.1 billion dinars, achieving an annual growth rate of 7.1%, totaling 46.3 billion dinars. Meanwhile, the credit facilities extended by banks increased by around 1.4 billion dinars, with an annual growth rate of 4.3%, reaching 34.7 billion dinars.

Financial safety metrics indicate the robustness of the Jordanian banking sector, characterized by a notable capital adequacy ratio of 17.6%, one of the highest in the region, as well as satisfactory levels of legal liquidity at 138.8%, surpassing the Central Bank's required rate of 100%.

The most recent economic indicators show the adaptability of the external sector amid the uncertainty observed in the region. Remittances from workers rose by 3.5% in the first eight months of 2024, totaling $2.3 billion.

Tourism earnings reached approximately $5.6 billion in the first three quarters of 2024, a decrease of 4.3% from the same timeframe last year.

The Central Bank projects that the trade deficit will reduce by approximately 5% in the first ten months of this year, due to the unexpectedly strong export performance in that timeframe.

The Central Bank projects that the national economy will increase by 2.4% in 2024, highlighting that the growth rate for the first half of this year was 2.2%.