The report of the "Jordan Economic Monitor" issued by the World Bank showed that the acceleration in the global recovery rate and the improvement of the level of dissemination and distribution of vaccines against the Corona virus, and fully reopening the doors of the economy are the main drivers behind his expectations that Jordan will achieve a growth rate of 2.2 percent for this year.
According to the report, the Jordanian economy began its recovery journey and was able to record a growth rate of 1.8 percent in the first half of 2021, after recording a moderate contraction of 1.6 percent in 2020. Both the services sector and the industrial sector led the locomotive of the recovery of the Jordanian economy, although some sub-sectors remained below their levels recorded before the outbreak of the pandemic.
The report indicated that the Corona pandemic was a direct cause of unemployment in Jordan reaching 24.8% in the second quarter of 2021, up from only 19% before its outbreak. The report reveals that fiscal and monetary policies have continued to play a supportive and decisive role at the same time, despite the challenging environment at the global level. During the first seven months of 2021, domestic revenues recorded strong growth, supported by a remarkable recovery in economic activity and an increase in imports, in addition to the measures taken to improve the level of tax administration.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
