AMMAN — Adel
Sharkas, the Governor of the Central Bank of Jordan, emphasized in a press briefing that
this strong reserve position bolsters Jordan's capability in exchange rate
management, fortifies its economic landscape, and boosts the confidence of
international creditors and investors.
اضافة اعلان
Such confidence is pivotal for Jordan's
commitment to meeting its external financial obligations. Analysts view the
surge in foreign reserves as an affirmation of Jordan's prudent monetary
policy, which is likely to attract further foreign investments and elevate the
nation's standing among global financial institutions, the Jordan News Agency,
Petra reported.
Several
factors have contributed to this positive trajectory. Central Bank data reveals
a 15.3 percent uptick in Jordan's exports of goods and services in the first
half of the year, reaching approximately $11 billion. This surge has led to a
35.4 percent contraction in the trade deficit, which now stands at $3.1
billion.
Additionally,
remittances from overseas workers have shown an upward trend, reaching $2.254
billion in the first eight months. Foreign direct investment inflows also
witnessed a growth spurt, increasing by 20.9 percent to about $776 million
compared to the same period in 2022.
The tourism
sector, a significant contributor to the nation's economy, has also shown
promising signs. Tourism revenue climbed by 37.7 percent over the past nine
months, amounting to $5.819 billion. This growth is attributed to the influx of
tourists, totaling 5.058 million, marking a growth rate of 38.1 percent.
The Central
Bank's announcement comes as a testament to Jordan's economic stability and its
ability to navigate financial challenges, positioning it favorably on the
global economic map.
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