Moody’s: Jordan's financial regain helps banking system forecast

2022-07-26 03:31:06

(MENAFN) Moody’s Investors Services has stated that the regain in the Jordanian economy has assisted to develop working environments for the nation’s economic organizations and remains to back the banking area’s steady viewpoint.

Robust capital buffers, ample deposit funding as well as liquidity buffers also bode well for the economic constancy of banks in the kingdom, the rating agency mentioned in a report issued on Monday.

Christos Theofilou, vice president and senior expert at Moody’s stated that “Jordan's commitment to economic reforms, the full reopening of the economy, rising demand for exports and a rebound in tourism will support economic growth.”

The ratings agency estimates the Jordanian economy to grow around 2.5 percent and 3 percent this year and the following one, individually.

The faster rate of expansion when compared to the 2 percent accomplished last year is going to keep “loan performance stable despite the rising cost of living and higher interest rates”, it stated.

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