GDP grew by 2.5% last year — IMF

AMMAN – Jordan's economy grew by 2.5 per cent in 2015, according to the International Monetary Fund (IMF). 

In its World Economic Outlook, released Tuesday ahead of the IMF/World Bank Group Annual Spring Meetings in Washington, DC, in April 15-17, the international financial organisation projected the Kingdom’s economy to expand by 3.2 per cent this year and 3.7 per cent in 2017.

The IMF has previously expected Jordan's gross domestic product (GDP) to grow by 2.9 per cent but due to slower economic activity in the first three quarters, which stood at 2.3 per cent, it was downgraded to 2.5 per cent. 

The IMF outlook for this year and 2017 is lower than the projections of the government, which planned 2016 state budget on the basis of a growth rate of 3.7 in 2016 and 4.5 per cent next year. 

In regards to inflation, the IMF expected it to remain low at 0.2 per cent this year and 2.1 per cent in 2017. Inflation in 2015 was put at 0.9 per cent by the Department of Statistics.

Current account balance to the GDP, according to the IMF, is projected to narrow from 8.8 per cent in 2015 to 6.4 per cent this year and 5.6 per cent next year.