EBRD prospects: Jordan growth to slow in ’24

Jordan’s economic growth is expected to slow to 2.2 per cent in 2024, according to the European Bank for Reconstruction and Development (EBRD), as the war in Gaza weighs on tourism and investment. On the the other hand, The EBRD forecasts a slight improvement in 2025 with growth rising to 2.6 per cent, provided geopolitical conditions stabilise and reform efforts continue.

Inflation remained moderate at 1.9 per cent in July 2024, though unemployment remains a significant challenge, with 21.4 per cent of the overall workforce jobless, and much higher rates for women (34.7 per cent) and youth (43.7 per cent).

Attribution: EBRD report

Subediting: M. S. Salama