‘Jordan’s economy to grow 2.2% amid anticipated slowdown’

AMMAN — Jordan's economy is expected to grow by 2.2 per cent in 2019 and 2.4 per cent in 2020 amid an anticipated slowdown in global growth, according to a World Bank report.

The World Bank, in its June 2019 ”Global Economic Prospects: Heightened Tensions, Subdued Investment” report, said that the Kingdom's economy is expected to grow by 2.6 per cent in 2021.

Global economic growth is forecast to ease to a weaker-than-expected 2.6 per cent in 2019 before climbing slightly to 2.7 per cent in 2020.

Growth in the MENA region is expected to stay “weak” at 1.3 per cent, which the report associated with weak oil production and US-sanctions against Iran.

Meanwhile, a revival of growth in Gulf Cooperation Council economies is expected, as well as a 3.2 per cent rise in regional GDP in 2019.

Growth among advanced economies as a group is anticipated to slow down in 2019, especially in European countries, due to weaker exports and investment. US growth is forecast to ease to 2.5 per cent this year and decelerate to 1.7 per cent in 2020.

Emerging and developing economies’ growth is constrained by sluggish investment, and risks including rising trade barriers, renewed financial stress and sharper-than-expected slowdowns in several major economies.

Investment growth in emerging and developing economies is also expected to remain subdued and below historical averages, held back by sluggish global growth, limited fiscal space and structural constraints.