Jordan and Lebanon growth will slow to 2.5 percent
Growth projections for Jordan and Lebanon are expected to slow to 2.5 percent in 2009, however…
June 23, 2009 12:00 by Aarti Nagraj
Growth projections for Jordan and Lebanon are expected to slow to 2.5 percent in 2009, however, growth is expected to return in 2011, says a World Bank report. Both nations suffer from large deficits and “face the largest risk of a balance of payments crisis in a protracted recession scenario,” the report said.
Meanwhile, the regional outlook fell to 1.6 percent from last year’s 5.6 percent.
Furthermore, the bank claims both Saudi Arabia and Kuwait will fall into recession in 2009, wrecking havoc on neighboring economies.