Amman: Central Bank of Jordan (CBJ) Governor Adel Sharkas announced that the national economy has demonstrated flexibility and stability in the face of regional and international challenges. This has been supported by structural economic and financial reforms implemented by the government over recent years.
According to Jordan News Agency, Governor Sharkas shared these insights at the 2025 Jordan Banking Summit, titled "Resilience and Innovation in Banking: Adapting to a Transforming Economy," organized by the Association of Banks in Jordan. He emphasized the importance of the CBJ's committed monetary strategy, which has enabled the Jordanian economy to navigate various challenges successfully.
The national economy has achieved several positive indicators, particularly in the external sector. National exports have reached new markets, growing by 3.8 percent in 2024 to JD8.6 billion. Additionally, tourism revenue has generated JD5.1 billion, and expatriate remittances have increased by 2.8 percent to JD2.6 billion. Foreign investments reached JD906 million in the first three quarters of 2024, leading to a real GDP growth of 2.4 percent in the specified period. Governor Sharkas anticipates GDP growth to reach 2.7 percent in 2025.
Governor Sharkas further highlighted that the national economy is well-equipped to face challenges and thrive. The Kingdom has a comprehensive long-term roadmap for reform across political, administrative, and economic spheres in the coming years. The Central Bank aims to maintain monetary stability, supported by a foreign reserve exceeding $21 billion. The dollarization rate is expected to decline to 18.4 percent by the end of 2024, with inflation rates dropping to 1.6 percent and an anticipated 2 percent in 2025.
Basem Al-Salem, Head of the Association of Banks in Jordan, commented on the global economic situation, noting the increasing pressures from inflation, changes in central bank policies, and rising economic and geopolitical uncertainties. These factors compel emerging markets to adapt to energy fluctuations and financial instability. He also mentioned that artificial intelligence is transforming productive sectors, enhancing efficiency while posing questions about the future of the labor market.
Al-Salem reported that the Jordanian economy achieved a growth rate of 2.4 percent during the first nine months of 2024, with expectations for 2.9 percent growth in 2025 as inflation rates remain low. Most economic sectors have recorded positive growth, except for the construction sector, which declined by 1.5 percent. Exports increased by 5.2 percent, helping to reduce the trade deficit, while unemployment decreased to 21.5 percent.