AMMAN: The Regional Economic Outlook Update released Tuesday in Dubai, projected that Jordan’s Gross Domestic Product (GDP) will grow by 3.8 per cent this year and 4.5% in 2016.
For the Middle East North Africa, Afghanistan, and Pakistan (MENAP) group of oil-importing countries, the International Monetary Fund report predicted the GDP would grow by 4 per cent in 2015 and 4.4 per cent in 2016. According to the report, the inflation rate is expected to be around 1.2 per cent in 2015, while it is forecast to reach approximately 2.5 per cent in 2016.
Regionally, the report expected inflation to reach 6.9 per cent and 6.5 per cent in 2015 and 2016, respectively. According to the report, the budget deficit is expected to drop to 2.9 per cent in 2015 and 1.5 per cent in 2016. Regionally, the report expected the budget deficit to reach 7 per cent in 2015 and 5.6 per cent in 2016.
Consumer Price inflation for MENAP oil exporters is expected to grow by 5.8 per cent and 6.1 per cent in 2015 and 2016, respectively.
