|09-30-2014, 01:53 PM||#1|
Jordan`s Economy Eyes 3.3% Growth, IMF Says
The economy of Jordan is eyeing growth of 3.3% this year as it continues to show resilience despite tensions in the region, the International Monetary Fund said.
Head of the IMF Mission Kristina Kostial said late Monday that Jordan’s economy had proved resilient “in an increasingly difficult regional environment.”
In a statement at the end of a review of Jordan’s economic performance, the IMF said growth was expected to hit 3.3% this year, compared with 2.8% last year, boosted by a recovery in several sectors, including mining and agriculture.
The IMF said Jordan’s performance was broadly on track under a three-year deal concluded in August 2012 for the country to get highly-needed finances to return on the right track and avoid a major economic crisis.
Jordan’s recovery comes despite a hard hit to government finances by the cost of accommodating 600,000 Syrian refugees who fled the civil war, and added a setback on an already burdened aid-dependent economy with over $28 billion in public debt.
The IMF report however added that the economy needs more work on job-making and reducing the public deficit.
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