AMMAN — The European Bank for Reconstruction and
Development (EBRD) on Thursday said that growth in Jordan for 2021 is expected
to reach 1.5 per cent, as movement restrictions are gradually lifted towards
the end of the year, according to the Jordan News Agency, Petra.
اضافة اعلان
Sustained by stronger cross-border trade and a continued
recovery in the tourism sector, growth is expected to rise to 2.2 per cent in
2022, according to the EBRD's latest Regional Economic Prospects (REP) report.
Finance and business-related services as well as
manufacturing and mining were the main drivers of growth in 2021, while tourism
continued to weigh negatively on growth. Inflation volatility subsided as prices
resumed their gradual acceleration, with the inflation rate reaching 1.9 per
cent year-on-year in September.
The EBRD also raised its growth forecast for the southern
and eastern Mediterranean (SEMED) region to 4.2 per cent for 2021.
The recovery in economic activity has started in most
economies of the SEMED region, the report said, and is mainly driven by a
rebound in the agriculture and telecommunications sectors as well as limited
growth in tourism and exports.
The future economic rebound will depend on the strength of
the global recovery, progress in the vaccination rollout, political
developments and the implementation of reforms to the business environment. The
EBRD report named increasing competition, improving governance, combating
corruption, advancing digitalization, and promoting inclusion as key steps to
attracting investors.
For 2022, output in the SEMED region is expected to grow by
4.4 per cent, reflecting a strong pickup in economic activity, notably in Egypt
and Morocco.
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