(MENAFN- Jordan News Agency)
Amman, Dec. 28 (Petra) -- In a comprehensive analysis of Jordan's economic performance, economists and former officials paint a picture of remarkable resilience and measured optimism for the coming year, despite significant regional geopolitical pressures.
Dr. Raad Al-Tal, Professor of Economics at the University of Jordan, emphasizes that while 2024 presented both challenges and opportunities directly influenced by regional Political developments, particularly the situation in Gaza, Jordan has demonstrated exceptional adaptability.
This resilience, he notes, stems from the country's political stability and ongoing economic reforms.
"The tourism sector, in particular, has shown notable recovery, bolstered by improved regional security and increased visitor numbers," Al-Tal highlights, adding that remittances from Jordanian expatriates have significantly strengthened the country's monetary reserves.
Economic expert Dr. Adli Kandah projects a gradual economic improvement in 2025, forecasting growth rates between 2.5 and 3 percent.
This optimistic outlook is tied to anticipated enhancements in the business environment and increased investments, which he suggests could lead to a modest reduction in unemployment rates, though labor market challenges persist.
Kandah points to several positive indicators, including potential regional developments that could benefit Jordan, particularly in foreign trade and investment sectors.
He specifically notes the possibility of positive impacts from developments in Syria, especially if international sanctions are eased.
Dr. Ahmad Al-Majali, an economic researcher, underscores the positive performance of the national economy in 2024 despite external pressures and regional political turbulence.
He particularly commends the central role of monetary policy in maintaining stability and the impact of the Economic Modernization Vision in achieving notable progress across various economic sectors.
"The monetary policy has served as a fundamental pillar for the economy during this period," Al-Majali explains, adding that the Economic Modernization Vision has injected optimism among investors and stimulated economic activity.
Looking ahead to 2025, experts anticipate potential benefits from expected reductions in global interest rates, which could lower local financing costs and stimulate investment.
However, they emphasize the need for continued implementation of economic reforms and efficient public spending to sustain this positive trajectory.
The government's recent corrective measures in the final quarter of 2024, including reduced penalties for unlicensed vehicles and tax cuts for electric cars, reflect a clear direction toward improving economic conditions and enhancing financial and social stability.
All experts agree that while challenges remain, Jordan's economic outlook appears cautiously optimistic, contingent upon continued reforms, successful opportunity exploitation, and effective risk management in an evolving regional landscape.
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