Jordan’s Economy Expands 2.6 Pct Year/Year In Q3
The finance ministry expects the economy to expand just 2.3 percent this year, lower than its earlier projections of at least 3 percent, while the IMF forecasts a 2.5 percent expansion in 2011.
December 27, 2011 8:52 by Reuters
Jordan’s economy picked up slightly in the third quarter, expanding 2.6 percent from a year earlier as the mining, transport and financial services sectors rebounded, official data showed on Monday.
The Jordanian economy has been at its weakest in the last two years since an economic crisis in 1989, when the country was forced to seek help from theInternational Monetary Fund. Officials say it will take time to get back to previous growth levels.
The finance ministry expects the economy to expand just 2.3 percent this year, lower than its earlier projections of at least 3 percent, while the IMF forecasts a 2.5 percent expansion in 2011.
In the second quarter, GDP grew 2.4 percent year on year.
The aid-dependent economy has been hurt by sluggish private sector growth, while regional political uncertainty has cast a shadow over investment. (Reporting by Suleiman Al-Khalidi)
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