AMMAN — Fitch Solutions expects a moderate acceleration of
the Kingdom’s economic growth to 2.6 percent in 2023.
اضافة اعلان
The company stated the Kingdom’s economic growth should
remain above the ten-year pre-COVID average, Al-Mamlaka TV reported.
In its report, research highlighted the country’s gross
domestic product (GDP) is expected to grow moderately, from 2.5 percent in 2022
to 2.6 percent in 2023, remaining slightly higher than the pre-pandemic
ten-year average of 2.4 percent.
In the same report, it highlighted that the increase of
Jordan’s economic growth would be driven by a collective performance in all
components of the GDP.
Moreover, it predicted that the increase in real GDP growth
would most likely be driven by an annual increase in investment, which would
raise its contribution to the Kingdom’s real GDP growth from 0.5 percent in
2022 to 0.6 percent in 2023.
Contributions form Jordan’s private sector
Meanwhile, the report expects that the contribution of
private consumption to the country’s economic growth will increase this year
for two main reasons.
The first reason is an increase in consumer confidence due
to a significant decrease in inflation due to the decline in global commodity
prices from 4.4 percent in 2022 to 2.7 percent in 2023.
Secondly, the company believes that the decrease in
unemployment will support household spending, following the notable increase in
unemployment during the pandemic, which will decrease from 22.9 percent in 2022
to 21.7 percent in 2023.
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