AMMAN: Despite difficult regional political conditions, Jordan has been able to achieve positive economic indicators, Industry and Trade Minister Maha Ali said on Sunday.
Speaking at a forum that brought together Arab and foreign diplomats working as economic and commercial attachés at embassies in the Kingdom, she said Jordan has succeeded to achieve noticeable economic progress and has worked on reforming the business environment.
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Gross domestic product (GDP) grew by 3.1 per cent in 2014 compared to a growth by 2.8 per cent in 2013, she added, forecasting a similar growth rate this year. During the first four months of this year, inflation dropped by 1.1 per cent and the Central Bank of Jordan reserves reached around $13.6 billion, she indicated at the forum.
Moreover, the budget deficit as percentage of the GDP after aid dropped to 2.3 per cent compared with 5.5 per cent in 2013, she said, highlighting the Kingdom’s economic reform over the past 10 years, its infrastructure, trained workforce, effective banking sector and IT services. She also highlighted the Kingdom’s industrial estates and development zones that have become home for diversified industrial activities. Emphasising the government’s efforts to provide stable and attractive investment environment, she cited the recently endorsed investment law, highlighting the incentives and the “Investment Window”.
