Amman (UNA-OIC) – Jordan’s economy is projected to grow by 2 percent in 2021 with a near-full economic reopening this summer, the International Monetary Fund (IMF) said on Tuesday, slightly lowering its previous forecast of 2.5 percent.
In a report following the conclusion of the Second Review Under the Extended Arrangement Under the Extended Fund Facility, the IMF said the Jordanian authorities have successfully maintained macroeconomic stability, notably by meeting all key fiscal and reserve targets and made very strong progress on a large number of critical structural reforms.
Early success in containing the spread of COVID-19 has been challenged by two subsequent waves of the pandemic, the IMF said, adding that timely and effective fiscal and monetary policy responses helped contain the contraction in activity to 1.6 percent in 2020, shallower than the 3 percent expected at the first review.
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In a report following the conclusion of the Second Review Under the Extended Arrangement Under the Extended Fund Facility, the IMF said the Jordanian authorities have successfully maintained macroeconomic stability, notably by meeting all key fiscal and reserve targets and made very strong progress on a large number of critical structural reforms.
Early success in containing the spread of COVID-19 has been challenged by two subsequent waves of the pandemic, the IMF said, adding that timely and effective fiscal and monetary policy responses helped contain the contraction in activity to 1.6 percent in 2020, shallower than the 3 percent expected at the first review.
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