Fitch affirms Jordan's stability amidst uncertainty

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AMMAN — In a recent announcement Fitch Ratings (a leading provider of credit ratings), has affirmed Jordan's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BB-' with a Stable Outlook.اضافة اعلان

Minister of Finance, Dr. Mohammad Al-Issis, emphasized the significance of maintaining Jordan's credit rating amidst regional uncertainties, considering it a testament to the resilience of the Jordanian economy. He underscored the need for ongoing measures to ensure financial stability while safeguarding the middle class and avoiding additional tax burdens on citizens, the Jordan News Agency, Petra reported.

Jordan's Credit Rating Holds Steady Amid Regional Challenges
Highlighting Jordan's commitment to fiscal consolidation, Fitch predicted a decline in the general government budget deficit to 2.2% of GDP (5.2% at the central government level) in 2023, compared to 2.7% in 2022.

 Jordan's $1.2B IMF deal unveiledMoreover, Fitch acknowledged Jordan's successful completion of its seventh review under the Extended Fund Facility (EFF), scheduled to conclude in March 2024. The country also secured a Staff-Level Agreement with the International Monetary Fund (IMF) for a new four-year EFF amounting to USD1.2 billion.

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