Jordan expecting 3% growth this year
The projection is from the country’s government, which also forecasts that exports will increase by 8%.
São Paulo – Jordan’s minister of Industry, Trade and Supply Yarub Qudah said the government expects the economy to grow by 3% this year and exports to increase by 8%, Petra reported this Wednesday.
In its World Economic Outlook report released on Tuesday (18), however, the International Monetary Fund (IMF) sees the Jordanian Gross Domestic Product (GDP) widening by 2.3% in 2017 and by 2.5% in 2018, up from 2.1% in 2016.
Qudah also said Jordan’s debt amounts to 94.5% of GDP, and that due to its fiscal deficit, the country will cut public spending. According to the IMF, the Jordanian public deficit was tantamount to 3.6% of GDP in 2016, and should drop to 3% this year.
He stated that, in the government’s view, the country’s development goals will be reached in partnership with the private sector. “Our philosophy today is to hand leadership to the private sector through the establishing and implementation of partnerships with us,” said Qudah, according to Petra.
Also according to the news agency, the minister gave the remarks in a conference in Amman called “Obstacles facing the Jordanian Economy and the Role of the Private Sector”, organized by the Jordan Young Entrepreneurs Association (YEA) and the Friedrich Naumann Foundation for Liberty (FNF).
*Translated by Gabriel Pomerancblum and Sérgio Kakitani