Jordan’s Economy Predicted To Grow by 2.7% in 2023: Finance Minister
Jordan’s economy is expected to grow by 2.7% in 2023, Finance Minister Mohamad Al Ississ said in a speech to the Parliament of Jordan’s House of Representatives on Monday. The economy was on a gradual path to recovery and was one of only a few countries in the world that international institutions predict will improve their economic performance this year, he said. Net foreign direct investment inflows in the first three quarters of 2022 reached 629 million Jordanian dinars ($886.8 million), which was 94% higher than over the same period in 2021. Foreign reserves, the minister said, stood at $17.3 billion dollars at the end of 2022, reflecting the strength of the dinar and coving 7.5 months of the country’s imports. Inflation stood at 4.2% in 2022 but was expected to drop back to 3.8% in 2023. “Inflation in Jordan is one of the lowest in the world and reflects the government’s success in curbing inflation,” he asserted. Jordan was expected to receive 802 million Jordanian dinars ($1.13 billion) in grants in 2023, the minister said, adding that there were strong indicators of recovery in exports, including tourism.
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