Despite regional turbulence and failure of donor countries to provide Jordan with promised grants, the national economy has showed recovery so far this year, a senior official said.
Central Bank of Jordan (CBJ) Governor Ziad Fariz said in remarks at a meeting hosted by the Socio-Economic Council that the CBJ holds a “comfortable and safe” level of foreign currency, despite the delay in foreign assistance, that remains vital for Jordan, which suffers an unprecedented budget deficit, blamed mainly on disruption in gas supplies from Egypt and the rising energy needs.
Fariz also cited “positive indicators” achieved in the first half of 2012, including stabilised inflation rate at 3.9 per cent by the end of June, a 19 per cent increase in tourism revenues and improvement in expatriates’ remittances.
Meanwhile, he continued, unemployment rate went down to 11.5 per cent, the GDP achieved a 3 per cent growth, compared to 2.3 per cent in the same period last year, and a 7 per cent increase in bank credit facilities extended to borrowers.
Jordan Times
Jul 09
