Jordan’s Economy Continues to Grow Despite Challenges

  • Amman, Hashemite Kingdom of Jordan
  • 5 December 2018

Jordan’s Minister of Finance, Ezzedin Kanakriyah, stated that Jordan’s Economy is good and able to grow despite the challenges it faced and the pressures exerted from the high deficit of the Country’s budget and public debt. During a speech he gave at the House of Representatives to discuss the budget, he recognized that Jordan is able to adapt to different circumstances and keep away the negative effects as far as possible within their potential limits maintaining the wheel of construction and growth. He pointed out that the latest report by Standard & Poor's confirmed Jordan's credit rating at B+, giving Jordan’s Economy a stable outlook, and highlighting the Government's ability to maintain the stability level of debt to GDP.
According to the Ministry of Finance, total public debt stood at 28.22 billion dinars ($39 billion) at the end of July, accounting for 96.4 percent of GDP, while it stood at 27.27 billion dinars ($38 billion) in 2017, representing 95.9 percent of GDP.

Source: (Asharq Al-Awsat Newspaper, Edited)

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