Standard & Poor's upgraded Jordan's long-term domestic and foreign currency sovereign credit rating from "B+" to "BP-" with a stable outlook. The positive assessment comes for the first time in 21 years despite external global and regional shocks, especially since the outbreak of the Corona pandemic, then the Russian-Ukrainian war, and finally the tensions in the Middle East.
The agency indicated that the upgrade of Jordan's credit rating resulted from keeping public financial management on track and achieving its goals during the past year to reduce the ratio of primary deficit to GDP. Standard & Poor's adjustment reflects Jordan's resilience to external shocks, giving the authorities a strong impetus to continue the reform path despite the challenges.
Source (Al-Arab Newspaper of London, Edited)
