Jordan has $17.4 billion reserves, covering 7.6 months of imports

Central Bank of Jordan  CBJ
(File photo: Jordan News)
AMMAN – The Governor of the Central Bank of Jordan, Adel Sharkas, confirmed that the Kingdom has a comfortable level of foreign currency reserves, amounting to $17.4 billion, covering 7.6 months of the country's imports of goods and services, according to Al-Mamlaka. اضافة اعلان

He stated in a press release that having comfortable levels of foreign reserves enables the Kingdom to influence exchange rates, provide a stable economic environment, enhance the confidence of foreign creditors and investors in the national economy, and reaffirm the Kingdom's ability to meet its external financial obligations.

The increase in foreign reserves is a positive indicator of Jordan's financial and economic stability.

The growth of Jordan's exports during the current year, along with increased tourism activity in the Kingdom, rising remittances from expatriates, and increased foreign direct investment inflows, all contributed to the growth of foreign currency reserves.

Jordan's central bank data shows a 15.3% increase in the country's exports of goods and services, reaching nearly $11 billion during the first half of the current year. This contributed to a 35.4% decrease in the trade deficit during the same period.

Worker remittances also saw an increase during the first eight months of the current year, reaching $2.254 billion. Additionally, the total inflow of foreign direct investment into the Kingdom during the first half of the current year increased to around $776 million, representing a 20.9% rise compared to the corresponding period in 2022.

The increase in tourism income has played an important role in raising the level of reserves, increasing by 37.7% during the past nine months, reaching $5.819 billion.

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