AMMAN — The Jordan Strategy Forum (JSF) said that Jordan has succeeded in maintaining stable economic growth and inflation rates, despite geopolitical challenges and their economic effects on the countries of the region, in a policy paper titled "Sustaining Macroeconomic Stability in Jordan: Beyond Growth and Inflation"

 

The policy paper mentioned that the Jordanian economy maintained positive growth rates during the period of reform programmes with the International Monetary Fund (IMF), except for 2020 as a result of the repercussions of the Corona pandemic.

 

The JSF pointed out that Jordan, with the start of the economic recovery phase, achieved a real growth rate of 3.8 per cent in 2021, before growth stabilised at levels ranging between 2.6 per cent and 3.1 per cent during the following years according to Al Mamlaka TV.

 

The growth is considered is stable in light of the geopolitical challenges witnessed in the region.

 

With regard to price stability, the forum's assessment showed Jordan's success in maintaining low and stable inflation rates, despite the global inflation wave that followed the Corona pandemic.

 

As a result of the policy of fixing the exchange rate of the dinar against the dollar, prudent management of monetary policy, and comfortable levels of foreign exchange reserves.

 

The forum also noted a gradual improvement in the government's ability to mobilise domestic revenues to meet its fiscal obligations, with tax revenues increasing from 13.9 per cent of GDP in 2010 to 15.4 per cent in 2024.

 

While total domestic revenues increased from 19.9 per cent to 21 per cent of GDP during the same period.

 

At the end of the paper, the forum stressed that the recently announced strategic projects will constitute a real test of the economy's ability to achieve a balance between macroeconomic stability and financial sustainability.

 

The forum noted that if the strategic project were implemented efficiently and financed in partnership with the private sector and international financial institutions, it is expected to contribute to boosting investment, raising productivity and stimulating economic growth in the long term, Al Mamlaka TV reported.