As ongoing volatility continues to hamper growth in the region, Jordan has made significant progress in preserving macroeconomic stability and reducing its fiscal deficit in the past few years. Efforts to the fulfill the stipulations of a $723m extended fund facility agreement with the IMF continue, and the government may need to pursue more widespread reforms to increase income tax revenues and limit tax avoidance so as to sustain recent momentum.
The country has made progress in key areas, reducing its fiscal deficit from 10.3% of GDP in 2014, to 3.2% in 2016 and an estimated 2.5% in 2017. Real GDP growth has also seen improvement, rising from a 25-year low of 2% in 2016 to 2.2% the following year. Moving forward the focus is set to shift towards green and digital expansion in line with the country’s new mid-term economic agenda, the Jordan Economic Growth Plan 2018-22, which aims to improve the business environment and attract new international investments into key target industries including manufacturing, electricity, transport and ICT. The country has made progress in key areas, reducing its fiscal deficit from 10.3% of GDP in 2014, to 3.2% in 2016 and an estimated 2.5% in 2017. Real GDP growth has also seen improvement, rising from a 25-year low of 2% in 2016 to 2.2% the following year. Moving forward the focus is set to shift towards green and digital expansion in line with the country’s new mid-term economic agenda, the Jordan Economic Growth Plan 2018-22, which aims to improve the business environment and attract new international investments into key target industries including manufacturing, electricity, transport and ICT.
Brighter prospects: Crown Prince Hussein, on empowering younger generations, and enabling growth...
Enhanced opportunities: Prime Minister Hani Al Mulki, on the role of the private sector in...
Optimism for recovery: Imad Fakhoury, Minister of Planning and International Cooperation, on...
The road ahead: Omar Malhas, Minister of Finance, on economic, financial and fiscal developments
Mapping potential: Muhannad Shehadeh, Minister of State for Investment Affairs, on establishing a...
A strategic partner: Abdulwahab Al Bader, Director-General, Kuwait Fund for Arab Economic...
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