AMMAN — Jordan has the largest wheat
reserve in the
MENA region, which can cover 16 months of consumption,
Al-Mamlaka TV reported.
اضافة اعلان
It said Jordan’s switch to signing long-term gas
contracts will provide some protection from the rising oil prices globally.
The information came from an S&P Global Ratings
study, which analyzed the indirect effect of the
Russian-Ukraine war on 35
emerging markets worldwide.
The study found that Egypt, Jordan, Lebanon, Morocco
and Tunisia are five of the most affected MENA economies from the fallout of
Russia’s invasion of Ukraine.
It said the reason was high dependency on food or
energy imports from the two warring nations.
One of the main inflation risks in the MENA region
is the spike in food prices. Food represents a higher rate on the consumer
price index consumption basket, compared with advanced economies.
The pressure of inflation can accumulate with the
increase in energy prices, although households in emerging economies generally
spend less on energy than on food. But they will still be strongly impacted by
the high international energy prices.
S&P Global Ratings is an American credit rating agency
and a division of S&P Global that publishes financial research and analysis
on stocks, bonds, and commodities, according to Wikipedia. It said S&P is
considered the largest of the Big Three credit-rating agencies, which also
include Moody’s Investors Service and Fitch Ratings.
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