A
- Advertising Agencies
- Arabic Sweets,
Pastries, Chocolates
- Architects


B
- Banks
- Beauty


C
- Car Rental
- Coffee Shops
- Commerce
- Consulting
- Craft


D
- Data Processing &
Computer Systems
- Decoration &
Furnishing


E
- Environment / Waste
Management Services
- Express Delivery
- Equipment : food
services, catering,
kitchen, laundry


F
- Financial Services
- Flowers
- Food & Beverage


H
- Hotels 3
- Hotels 4 & 5
- Hotels & Suites


I
- Industry
- Insurance
- Interior Design /
Decoration
- Internet


J
- Jewelleries


L
- Leisure
- Lighting


M
- Medias
- Medical / Technology


O
- Office Equipments /
Electronics
- Outside Decoration


P
- Printing


R
- Real Estate
- Restaurants


S
- Security
- Shop Systems
- Superstores


T
- Telecommunication &
Mobile Phones
- Transport
- Travel Agencies










 


 
Back to archives Back to news
French Version

Jordan's economy shrinks to 6 percent in line with forecast

Jordan's economy shrunk from 7.2 percent in the first half of 2004 to 6 percent at the end of last year, according to the International Monetary Fund (IMF). But as The Daily Star revealed last week, Jordan needs to achieve 7 percent GDPgrowth to avoid the trap of poverty and marginalization.

The 7 percent figure was based on forecasts by Lebanon's Banque Audi. This week, the bank said the 6 percent GDP growth was in line with its annual forecast published in the middle of 2004.

"While real growth has dropped from 7.2 percent to 6 percent in the first half of 2004, it still reflects a healthy improvement in almost all sectors of economic activity," Audi said.

Most economists agree that Jordan's economy got a shot in the arm after the U.S. invasion of Iraq two years ago.

"The analysis of major real sector indicators confirms a strong pick-up in activity during 2004," Audi said.It added that all major indicators have reported upward movements though at varying rates.

Imports grew by 41.5 percent year-on-year, exports improved by 28.2 percent, construction areas expanded by 21.8 percent, electricity production increased by 12.6 percent and cement production rose by 10 percent.

Audi said that amid this strong growth environment, unemployment fell to 12.5 percent and inflation was recorded at a moderate 3.4 percent rate.

"The rise in annual inflation by 1.3 percent relative to 2003 resulted partly from the pick up in economic activity, the government's increase of the General Sales Tax rate, and the rise in international prices of crude oil."

It added that there is no doubt that growth had a positive dual impact on fiscal adjustment in 2004, through both numerator and denominator effects.

"With debt to GDP representing the most significant indicator of financial vulnerability, growth has contributed to alleviate the deficit, the cause of debt growth, through a significant expansion in public revenues, mainly those that are at the mirror image of economic activity at large," the report said.

Audi expresses some concern about Jordan's high public debt to GDP ratio.

"With a debt to GDP ratio of 92 percent, against a regional average of 76 percent, Jordan still lies among relatively high indebted countries with an economy still relying on external grants," Audi said

Amman,11April2005
Redaction
The Daily Star


Geography
Some Marks
To see in Jordan
Overview
Fairs & Exhibitions
Useful Addresses
Media of 1stjordan
Impact of 1stjordan
The 'First Jordan' Card
Press Book
Exotica - Flowers - Shopping on line
www.exotica.com.lb
Engineering Consultants Lebanon
www.spectrumlb.com
Nsouli Jewelry Lebanon
www.nsoulijewelry.com
Hotel Beirut Lebanon
acropolishotel.com
Rent Villas France for Holidays, Seasonal Rentals France
www.rent-villas-france.com
Sole Agent for Philips & Whirlpool in Lebanon
www.azelectronic.com
Arab Printing Press Lebanon
www.arab-printing-press.com
Hotel Beirut Lebanon
www.hotelcavalier.com
Arabic Music, CD Arabia
www.cd-arabia.com
Hotels Syria
www.chamhotels.com
Groupe PMR
www.groupe-pmr.com