The IMF has forecast Jordan’s GDP to expand by 3.5% in 2014 and the government remains committed to tackling long term structural issues in the economy including reducing the fiscal deficit. The role of the private sector is being boosted, particularly with regard to government support for SMEs. Stronger economic ties with Iraq have led to proposals for a Basra-Aqaba pipeline and this, along...
Jordan
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Chapter | Country Profile from The Report: Jordan 2014
The past several years have seen significant changes in Jordan, with the population reaching 6.64m in 2014, swelled in part by refugees from neighbouring Syria and Iraq. Jordan, however, remains stable as it moves ahead with home grown and sustainable political reforms that look to establish lasting building blocks for democracy. In September 2014 King Abdullah II of Jordan re-iterated his...
In 2014 Jordan’s population reached 6.64m, as regional turbulence saw an influx of refugees from neighbouring countries. Jordan, however, remains stable as it pushes ahead with the political reforms announced in 2011. The economy continues to revive following the global economic downturn, while government commitments to tackle structural issues in the economy bode well for future growth.
Much discussion of Jordan’s economic potential focuses on the mining and processing of minerals, but knowledge sectors like pharmaceuticals may offer a more effective tonic for the economy.
Despite facing a challenging economic climate marked by regional unrest and high energy prices, Jordan’s industrial sector held its ground in the first four months of 2014, posting modest year-on-year (y-o-y) growth.
A combination of aid and investment from its Arab peers and stronger regional trade ties is proving instrumental in helping Jordan draw a line under several years of sluggish growth.