Jordan economy grows by 2.1 per cent

30 December 2009

Global downturn and high cost of energy imports hit economy

Jordan’s economy grew by just 2.1 per cent in 2009 according to the government, significantly lower than in previous years and far less than predicted by international observers.

The growth figure was revealed by Industry & Trade Minister Amer Hadidi during a seminar at the local Al-Hussein University on 28 December.

The economy has suffered from the global economic downturn and relatively high costs of energy imports.

The finance ministry said in its most recent monthly financial bulletin, covering the period to November, that the economy had grown by 3 per cent in the first half of 2009.

In a report published in May, the International Monetary Fund predicted that the country’s gross domestic product would grow by 3 per cent in 2009, far less than the 5.6 per cent growth in 2008 and the average 6.6 per cent growth from 2001 to 2007.

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