Jordan inflation among lowest in Mideast

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AMMAN — According to the report “Middle East Prospects 2023”, by the Economist Intelligence Unit, Jordan is among the Middle Eastern countries that have “reassuring” inflation rates relative to other countries in the region, the Jordan News Agency, Petra, reported.


The report forecast that in 2023, Jordan’s inflation rate would hit 3.5 percent, which is lower than the inflation rates predicted for Qatar, Palestine, Israel, Turkey, Egypt, Iraq, Iran, Yemen, and Syria.


Lebanon topped the list, with the highest inflation rate, at 167 percent. Meanwhile, Saudi Arabia had the lowest estimated inflation rate in the region, at 2.8 per cent.


The report predicted that Jordan’s economy would grow by 2.6 per cent in 2023; Turkey, Iraq, the UAE, and Qatar were among the countries with the highest growth expectations for next year.


In a speech about the 2023 general budget draft law (which is estimated at JD11.4 billion), Finance Minister Mohamad Al-Ississ had said that the Kingdom’s inflation rate was estimated to reach 3.8 percent in 2023, and that the growth rate for the same year was expected to be the same as in 2022: 2.7 percent.


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