ZCZC
BCN-25
JORDAN-ECONOMY-GROWTH
Jordan expects economy to grow by 2.2 pct in 2020
AMMAN, Dec. 9, 2019 (BSS/Xinhua) – Jordan said on Sunday it expects its
economy to grow by 2.2 percent in 2020 in spite of local and regional
challenges.
Jordan’s Minister of Finance Mohammad Ississ said the government presented
the 2020 draft state budget law to the Lower House, with an estimated deficit
of 1.247 billion dinars (about 1.8 billion U.S. dollars) after foreign
grants.
“The current expenditure is expected to reach 8.383 billion dinars in
2020, an increase of 414 million dinars from 2019,” he said in a statement
obtained by Xinhua.
Foreign grants are expected to reach 807 million dinars in 2020, the same
as 2019, he added.
The minister said that Jordan’s economy has proved resilient and acted as
a model for containing crises despite the regional turbulence and global
recession.
He noted that Jordan’s public debt has increased and currently accounts
for 97 percent of the gross domestic product.
“Jordan started talks with the International Monetary Fund on a new
program to stimulate growth and help create jobs, obtain soft loans and
grants to reduce the overall public debt and increase the competitiveness of
the national economy,” Ississ said.
In 2016, Jordan reached a 36-month financial support deal worth 700
million U.S. dollars with the IMF to embark on reforms to reduce public debt
and conduct fiscal reforms.
BSS/XINHUA/HR/1510