JORDAN’S ECONOMY EXPECTED TO GROW BY 2.5 PERCENT IN 2018

Jordan’s economy is expected to grow by 2.5 percent in 2018, which is slightly higher than 2017, Minister of Finance, Omar Malhas, said.

The minister made the remarks in a speech, at the Lower House, where he presented the 2018 state budget.

In 2017, economic growth is expected to reach 2.3 percent, which is not enough to create jobs, as unemployment rate is around 18 percent in the country, said Malhas.

Economic growth is expected to reach 2.7 percent in 2019, and 2.9 in 2020, he said.

The minister added that, inflation rate is expected to reach 1.5 percent in 2018, and 2.5 percent in 2019 and 2020.

Jordan’s foreign currency reserve stands at 11.7 billion dollars, and is enough to cover imports for seven months, he added.

Public debt at the end of Oct, reached 27.1 billion dinars (38.24 billion us dollars), accounting for 95.3 percent of gross domestic product.

Source: NAM News Network