EBRD Forecasts 2.6% Economic Growth For Jordan In 2024
Date
5/15/2024 11:33:39 PM
(MENAFN- Jordan Times) AMMAN - The European bank for Reconstruction and Development (EBRD) projected a 2.6 per cent economic growth increase for Jordan in 2024, according to its latest Regional Economic Review published on Wednesday.
EBRD attributed the decline to the indirect impacts of the ongoing war on Gaza, which has led to a decrease in tourist arrivals, a slump in investment inflows and a postponement in consumer spending,
the Jordan News Agency, Petra, reported.
The report also underscored the issue of high unemployment, which averaged 21.4 per cent in the last quarter of 2023, with women and youth facing particularly high rates of 29.8 per cent and 42.4 per cent, respectively.
The EBRD also forecasted an accelerated GDP growth of 3.4 per cent in 2024 and 3.9 per cent in 2025 across the Southern and Eastern Mediterranean region, which is contingent on the successful execution of economic stabilisation programmes and reforms.
The report also forecasted a downward adjustment of the 2024 forecasts, attributing it to slower progress on major public investment projects in Egypt and the indirect impact of the Israeli war on Gaza.
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