The Arab Investment and Export Credit Guarantee Corporation (Dhaman) Thursday revealed that Jordan’s Gross Domestic Product (GDP) grew by 2 percent in 2021 to $45.3 billion and is expected to expand by 2.7 percent in 2022 to $47.5 billion.
Dhaman’s report, based on statistics of the International Monetary Fund, said the per capita share of the GDP rose to $4,394 in 2021 and is expected to reach $4,565 in 2022. Inflation is expected to reach 2 percent, according to the report.
Investments in the Kingdom are expected to total $8.9 billion, comprising 18.7 percent of the GDP in 2022, the report said, adding that the budget deficit is projected to drop to 5.9 percent of the GDP.
Similarly, the current account deficit is expected to retreat to 4.4 percent of the 2022 GDP, while foreign reserves are forecast to grow to $17.8 billion, covering 9.1 months of goods and services imports.
Dhaman, located in Kuwait and established in 1974 as an Arab joint commission, is owned by Arab governments and 4 Arab financial commissions. The corporation has a high credit rating by Standard and Poor’s Global since 2008 and is considered the first multilateral investment insurance body in the world.
Source: Jordan News Agency