Jordan's economic growth is expected to stand at 2.4 per cent this year, according to the World Bank's latest Global Economic Prospects report issued Tuesday. The report projected that the Jordanian economy's growth rate to stabilize at 2.4 per cent in the next two years. "Global growth has slowed sharply, and risks of financial stress in emerging market and developing economies are intensifying amid rising global interest rates," according to the report. It explained that global growth is expected to slow from 3.1 per cent in 2022 to 2.1 per cent in 2023. With regard to the Middle East and North Africa region, the World Bank's report confirmed that the region has entered the current year with a strong momentum in growth, however it is still "slow", while the oil-exporting countries, which witnessed high growth rates over 10 years and low unemployment rates, during the past year, announced cuts in their oil production. Oil-importing countries faced several challenges, most notably high inflation rates, with growth slowing significantly in 2023.
Source: Jordan News Agency
