The value of gold reserves at the Central Bank of Jordan increased by 39 percent during the first quarter of this year, up by JD 592.2 million, compared to its level at the end of last year.
According to the Central Bank, the value of ounces at the end of last April amounted to about 2.111 billion Jordanian dinars, compared to 1.519 billion Jordanian dinars at the end of the year 2019.
The figures of the Central Bank of Jordan showed a decline in foreign exchange reserves in the first four months of this year by 7.4 percent compared to its level at the end of 2019. The value of currency reserves at the end of last April was about 11.26 billion dollars compared to about 12.17 billion dollars at the end of 2019.
The Jordanian Finance Minister, Muhammad Al-Asas, expected that the kingdom's economy, which is suffering from financial pressures will shrink by 3 percent this year due to the impact of the Coronavirus. The International Monetary Fund, which last March approved a $1.3 billion program with Jordan, also expected the kingdom's economy to grow by 2.1 percent in 2020 and gradually increase in the next few years to 3.3 percent.
Source (Al-Arabiya.net website, Edited)
