Economic growth rate over three years on June 25, 2017A recent report on the economies of Middle East countries, issued by the World Bank, stated that the economic growth rate in Jordan will be 2.3 per cent in 2017, 2.6 per cent in 2018 and 3 per cent in 2019. In other words, the economy will grow, but at a very slow pace. The […]
High inflation upon us on April 3, 2017The Department of Statistics has revealed that prices, measured by the cost of consumer basket of goods and services bought by the average Jordanian family, rose in February of this year by 4.56 per cent over the same month of last year. Statistics showed also that core inflation, which excludes the fluctuating prices of food, […]
Light at the end of the tunnel on March 19, 2017In his recent meeting to brief Al Rai newspaper journalists, Prime Minister Hani Mulki, referring to the state of the economy, assured that there is light at the end of the tunnel. That was, of course, an optimistic statement indicating that economic recovery is at hand, perhaps started, and that future indicators are on the […]
Unemployment is homemade on February 13, 2017The latest data on unemployment during the fourth quarter of 2016 shows that the rate stood at 15.8 per cent, compared to 15.9 per cent in the previous quarter.This means that unemployment has stabilised, but at a very high level not reached at any time in the last 10 years. It might stay there for […]
The World Bank got it wrong on January 30, 2017The World Bank continues to practise its hobby of issuing economic projections that never happen, not even by accident. The latest projection by the World Bank was that the rate of economic growth in Jordan would be 2.3 per cent in 2016 and 2.6 per cent in 2017. Both rates are way below the previous […]
Public debt service – a huge burden on January 16, 2017 The draft budget for 2017 indicates that the total interest payable on local and foreign debt will reach JD1 billion, and that the principal installments on foreign debt, which will come due in 2017, will reach JD714 million. Thus, the cost of debt service will be around JD1,714 million, enough to consume almost one […]
CBJ reserves on the decline on December 11, 2016The Central Bank of Jordan (CBJ) reserve of foreign exchange, gold not included, has declined during the first nine months of this year by 9.4 per cent, down to $12.6 billion at the end of September. This is a substantial decline that should attract the attention of those concerned. Observers blamed a decrease in expatiate […]
Jordans mining sector in trouble on December 5, 2016Available data indicates that Arab Potash Company is making money, although the main part of it is derived from non-operational activities, while Jordan Phosphate Mines Company is registering relatively big losses even though both companies are exporting to the same market in South East Asia, a region that needs huge amounts of fertilisers to produce […]
Budget deficit under control on October 30, 2016The International Monetary Fund (IMF) wants budget deficit this year not to exceed JD918 million. The budget for 2016 estimated deficit to be around JD907 million, an indication that the political will to abide by the IMF programme is strong. The question now is whether things will actually go in that direction, or the final […]
Central bank can spur growth on September 11, 2016The economic reform programme, agreed with the International Monetary Fund (IMF), says nothing on how to stimulate the economy and achieve higher rate of growth. The IMF programme focuses mainly on the budget deficit and the volume of debt and its rate of GDP. The assumption is that such financial reforms will create the right […]