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  • 12-04-20

    World Bank forecasts Jordan's gross domestic product growth rate to hit 2.3 percent

    (MENAFN) Jordan's economy (gross domestic product) expansion rate was estimated by the World Bank to stand at 2.3 percent during 2020, with a small increase by 2.5 percent in 2021.


    According to report by the bank, the current global improvements in light of the coronavirus pandemic are expected to have a significantly negative effect on MENA's expansion forecasts in the new term.


    As said by the bank, this effect would be largely transmitting through slowdown in main export and regional markets, reduced global travel and foreign inflows, and disruption in the services sector, as social distancing measures are strictly required.


    The bank also added that, lower oil prices are helping decrease oil's import bill, and to some extent limit the recent account decline although its effect on remittances and global concessional financing, mainly from the GCC could partly offset the reduced import bill.

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