Jordan’s expects four percent ecomnomic growth in 2002
Jordanian economy is set to experience a four percent economic growth rate in the year 2002, asserted Finance Minister Michel Marto. The Jordanian Ministry of Finance recently released annual forecasts putting the Kingdom’s 2002 budget deficit at 6.5 percent of the Gross Domestic Product (GDP). Overall spending was set at 2.4 billion Jordanian dinars ($3.4 billion) compared to JD 2.3 billion in 2001.
The Kingdom’s deficit is predicted to reach JD 435 million ($609 million) without taking foreign aid into consideration. The government is optimistic, however, about receiving some $336 million in foreign aid, which will decrease the budget deficit to $273 million, reported AFP. The government plans to initiate JD300-million worth of social welfare projects in 2002, which are also not included in the budget.
Jordan’s major foreign creditors include Japan, France, Germany and Britain. The kingdom’s main aid financers are Japan, granting the Kingdom one billion Jordanian Dinars in 2001, Germany with JD 220 million, the United States with JD 61 million and France with JD 56 million, reported Al-Hayat . — (menareport.com)
© 2002 Mena Report (www.menareport.com)