Despite high levels of government debt and the costs associated with hosting hundreds of thousands of refugees, Jordan’s economy has continued to demonstrate remarkable resilience in the face of ongoing regional instability. A raft of far-reaching reforms introduced in 2016, along with newly brokered international agreements, should help the kingdom continue along its slow but steady growth path in the years ahead.
The dissolution of Jordan’s Parliament in May 2016 led to the appointment of Hani Al Mulki, a prime minister who is widely considered to be pro-business and who is expected to accelerate ongoing economic reforms aimed at boosting investment and private participation in a number of major planned infrastructure projects. Meanwhile the EU’s move to relax rules-of-origin regulations for Jordan will help spur job creation and exports. Jordan’s financial services sector continues to post growth, with the banking sector in particular a major source of strength as the Central Bank of Jordan maintains its pro-growth monetary stance. Though it lacks the petroleum resources of many of its Arab neighbours, Jordan’s limited hydrocarbons have helped its energy industry become one of the most dynamic in the region. Development of renewables and nuclear are set to significantly boost domestic capacity and reduce the kingdom’s fuel bill in the coming years, with the private sector playing an increasingly prominent role in both.
A strong partner: King Abdullah II, on the need for support and unity in the face of a global crisis
Pillars of strength: OBG talks to Imad Fakhoury, Minister of Planning and International Cooperation
Necessary steps: OBG talks to Omar Malhas, Minister of Finance
Targeting higher investment: OBG talks to Thabet Elwir, Chief of Commission, Jordan Investment...
A stronger system: OBG talks to Ziad Fariz, Governor, Central Bank of Jordan (CBJ)
Sound and stable: OBG talks to Nemeh Sabbagh, CEO, Arab Bank
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