The European Bank for Reconstruction and Development (EBRD) expected Jordan's economic growth to reach 1.5 percent this year, after the gradual lifting of the movement restrictions by the end of the year. According to the report, growth is expected to reach 2.2 percent in 2022, driven by stronger cross-border trade activity and the continued recovery in the tourism sector.
The report showed that the financing and business-related services sectors, as well as manufacturing and mining, are among the main drivers of growth in 2021, while the weak performance of the tourism sector continued to negatively affect the growth.
Inflation volatility eased as prices resumed their gradual acceleration, with the inflation rate reaching 1.9 percent year-on-year in September.
The European Bank raised its forecast for economic growth in the southern and eastern Mediterranean region to 4.2 percent in 2021. According to the Bank's report, the recovery in economic activity began in most countries of the region, and was mainly driven by the recovery of agriculture and communications, beside the limited growth in tourism and exports. As for 2022, the production in the Southern and Eastern Mediterranean is expected to grow by 4.4 percent, reflecting a strong recovery in economic activity, particularly in Egypt and Morocco.
Source (Ad-Dustour Newspaper-Jordan, Edited)
