Jordan Expects a Growth of 3.3 percent

  • Amman, Hashemite Kingdom of Jordan
  • 25 February 2020

The Central Bank of Jordan expected that the rates of economic growth in Jordan during the next five years, between 2 and 3.3 percent, while it is expected that the rate of inflation in the medium term will be around 1.7 percent.

The Central Bank indicated that the unemployment rate is high in light of the continued slowdown in economic growth and the expatriate workers' acquisition of the largest portion of employment opportunities. It reached about 19 percent in the third quarter of 2019, revealing that the unemployment rate for non-Jordanians in the same period fell to less than 10 percent, after reaching in the second quarter of 2018 to about 18 percent.

The central bank expected the improvement of Jordanian national exports in the medium term, and the deficit in the trade balance improved, disclosing the growth of tourism income in the medium term, the growth rate of remittances of workers abroad and the rise in foreign direct investment in the coming years.

Source (Jordanian newspaper Al-Dustour, Edited)