AMMAN — Fitch
Ratings, a global credit rating agency, has affirmed Jordan's Long-Term
Foreign-Currency Issuer Default Rating (IDR) at “BB-“ with a stable outlook.
اضافة اعلان
This announcement follows Fitch's official visit to the
Kingdom in April, during which high-level meetings were held with key officials
including Minister of Finance, Mohammad Al-Issis, and Governor of the Central
Bank of Jordan (CBJ), Adel Sharkas.
Macro stability and fiscal reformsFitch Ratings acknowledged Jordan's remarkable achievements
in maintaining macroeconomic stability and implementing fiscal and economic
reforms.
The agency commended the Kingdom for effectively managing
the general government deficit, which reached 2.7 percent in 2022, according to
the Jordan News Agency, Petra. This figure surpassed Fitch's earlier forecast
of 3.7 percent, demonstrating Jordan's efficiency in fiscal management.
In addition to fiscal discipline, Jordan exceeded
expectations in terms of GDP growth.
Despite facing various regional and global shocks over the
past decade, the country recorded a growth rate of 2.5 percent in 2022.
Strategic fiscal planning cushions impactFitch Ratings attributed Jordan's economic resilience to its
strategic fiscal planning, which effectively protected the country from the
impact of the war in Ukraine.
The agency noted that Jordan's meticulous approach to fiscal
management played a crucial role in safeguarding its economy.
Another key factor in maintaining Jordan's rating is its
stable program with the International Monetary Fund.
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