Jordan’s economic growth falls short of forecast in first quarter

09 July 2008
Jordan’s economy slowed down more than expected in the first three months of this year, according to the government’s Department of Statistics.

The economy grew by 5.3 per cent at an annualised rate between January and March, lower than the government’s forecast of 6 per cent.

The figure was also lower than the most recent forecast from the International Monetary Fund. In April, the IMF forecast growth of 5.5 per cent in Jordan.

The Department of Statistics said the transport and communications sectors grew by 11.7 per cent, the fastest growing parts of the economy.

Financial services, which includes the real estate sector in the department’s classification, grew by 5.9 per cent.

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