Jordan's GDP projected to expand by 2.7% in 2022 — Dhaman report

AMMAN — The Arab Investment and Export Credit Guarantee Corporation (Dhaman) on Thursday said that Jordan's Gross Domestic Product (GDP) grew by 2 per cent in 2021 to $45.3 billion and is expected to further expand by 2.7 per cent to $47.5 billion in 2022.

Dhaman's report, based on statistics of the International Monetary Fund, said that the per capita share of GDP rose to $4,394 in 2021 and is expected to reach $4,565 in 2022. 

The report expected the exchange rate of the Jordanian dinar to remain the same at JD0.7 for each $1, with a slight increase on inflation to reach 2 per cent, according to the report, cited by the Jordan News Agency, Petra. 

Total investments in the Kingdom are expected to reach $8.9 billion, comprising 18.7 per cent of GDP in 2022, the report said, adding that the budget deficit is projected to drop to 5.9 per cent of GDP.

Similarly, the current account deficit is expected to drop to 4.4 per cent of the 2022 GDP, while foreign currency reserves are forecast to grow to $17.8 billion, covering 9.1 months of goods and services imports.

The Kuwait-based Dhaman, established in 1974 as an Arab joint commission, is owned by Arab governments and four Arab financial commissions, and enjoys a high credit rating by Standard and Poor's Global since 2008 and is considered the first multilateral investment insurance body in the world.