Jordan’s economic growth to be ‘moderate’, World Bank predicts

1. World Bank
World Bank (Photo: Jordan News)
AMMAN — The World Bank is predicting a “moderate” economic growth rate for Jordan, due to the effects of the war in Ukraine and associated sanctions, adding that such effects “may create headwinds and negative risks” to the recovery of Jordan’s economy, Al-Mamlaka TV reported.اضافة اعلان

In Jordan’s Economic Update report for April, the bank stated that “the rise in commodity prices globally could raise Jordan’s inflation rate this year to 3.3 percent”. The Department of Statistics said that the rate of inflation reached 2.4 percent last January.

The report raised its prospects for the growth of Jordan’s economy by 0.1 percentage points, reaching 2.1 percent in the current year, compared with last year’s growth of 2 percent. The recovery of supportive local government policies, the growth of tourism and services sectors are expected to boost the economy, the report said.

The report indicated that Jordan’s trade links with Ukraine and Russia are “limited”, but the steady and accelerating rise in commodity prices and the stronger slowdown in global growth presents “imminent downside risks to the economy”.

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