Jordan's Economy Expected to Grow by 2.7 Percent in 2023
The national economy is moving "confidently" on the path of gradual recovery and Jordan is one of the few countries that international institutions expect to maintain improved economic performance in 2023, the minister said in a speech at a Lower House session.
The minister said the net foreign direct investment inflows in the first three quarters of 2022 reached 629 million Jordanian dinars (886.8 million US dollars), which is 94 percent higher compared to the same period in 2021.
He added that the Jordan's foreign reserves stood at 17.3 billion dollars at the end of 2022, which reflects the strength of the Jordanian dinar. The reserves, he said, cover 7.5 months of the kingdom's imports of goods and services.
The minister added that Jordan's inflation widened to 4.2 percent in 2022 and is expected to narrow to 3.8 percent in 2023.
"Inflation in Jordan is one of the lowest in the world and reflects the government's success in curbing inflation," said the minister.
According to the minister, Jordan is expected to receive 802 million Jordanian dinars (1,130.71 million dollars) in grants in 2023.
The minister added that there are strong indicators of recovery in the fields of exports and tourism.
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