Economy

The Port of Aqaba has long provided a gateway not only to Jordan but also to the wider region. Recent times have seen the port undergo a number of major modernisation and expansion schemes, with new facilities and more efficient systems now in place.

While most business activity is still concentrated in and around Amman, as Jordan’s only seaport city, Aqaba plays an important role in the economy. Since the decision to turn the coastal port city and its surroundings into a special economic zone was announced in 2001, its significance as an economic base and tourist destination has grown....

Private investment is an increasingly important part of the government’s development plans as public spending in some areas is reined in amid challenging internal and external conditions. To facilitate this, Jordan is undertaking measures to make its business environment more attractive to private sector players, and is therefore keeping a...

Jordan has significantly reduced its fiscal deficit since it spiked to 10.3% of GDP in 2014. According to the IMF, the deficit fell to 5.3% of GDP in 2015 and to 3.2% in 2016, exceeding earlier predicted targets of 3.8%. The near-term outlook is even more positive, with the IMF forecasting that the figure would drop to 2.5% of GDP in 2017 and...