imf welcomes progress in jordan economy
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

IMF welcomes progress in Jordan economy

Arab Today, arab today

Arab Today, arab today IMF welcomes progress in Jordan economy

IMF
Washington - KUNA

The International Monetary Fund welcomed Jordanian authorities' "commitment to, and progress in, implementing their economic program" despite increasingly difficult regional environment, including spillovers from tragic situations in Syria and Iraq.
"Building on strong performance this year, we reached a staff-level agreement on the fifth review under the SBA (Stand-By Arrangement) and on reducing the number of remaining reviews under the program; the outstanding disbursements will be distributed equally across those reviews," Kristina Kostial, IMF mission chief for Jordan, said in a statement issued by the Fund Sunday.
The agreement is subject to approval of the IMF Executive Board, which is scheduled to consider the review next month. Board approval would make available to Jordan about USD 129 million.
"Jordan's economy performed well during 2014," Kostial said.
Helped by a recovery in mining and better activity in the tourism and utilities sectors, growth stood at three percent year-on-year in the first half of the year, she noted.
With a further slowdown in food prices, headline inflation dropped to 2.7 percent year-on-year in September, she said. The current account deficit continues to narrow significantly, the banking sector remains robust, and financial markets are stable, she said.
"The economy is expected to gradually strengthen," Kostial said.
Growth is projected to increase to 3.3 percent in 2014, and to 4.5 percent in the medium term, she said, while inflation is expected to decline to 2.9 percent at the end of 2014, and two percent in the medium term.
"The current account deficit (including grants) would continue to substantially improve to less than four percent of GDP (Gross Domestic Product) in the outer years of the medium term, mostly reflecting a lower energy-import bill," she said. "Risks to this outlook remain high, mostly related to the Syria and Iraq conflicts."

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf welcomes progress in jordan economy imf welcomes progress in jordan economy

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf welcomes progress in jordan economy imf welcomes progress in jordan economy

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday