Jordan's economy expected to grow by 2.5 percent in 2018
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E-mail Xinhua, November 26, 2017
AMMAN, Nov. 26 (Xinhua) -- Jordan's economy is expected to grow by 2.5 percent in 2018, which is slightly higher than 2017, Minister of Finance Omar Malhas said Sunday.
The minister made the remarks in a speech at the Lower House, where he presented the 2018 state budget.
In 2017, economic growth is expected to reach 2.3 per cent, which is not enough to create jobs as unemployment rate is around 18 percent in the country, said Malhas.
Economic growth is expected to reach 2.7 per cent in 2019 and 2.9 in 2020, he said.
The minister added that inflation rate is expected to reach 1.5 percent in 2018 and 2.5 percent in 2019 and 2020.
Jordan's foreign currency reserve stands at 11.7 billion dollars and is enough to cover imports for seven months, he added.
Public debt at the end of October reached 27.1 billion dinars accounting for 95.3 percent of gross domestic product.
Public debt to gross domestic product ration is expected to drop to 93.6 percent in 2018, to 90.3 percent in 2018 and to 86.2 percent in 2019 and 2020 respectively. Enditem
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