Jordanian economy grows nearly four percent in 2000
The Jordanian national economy recorded a 3.9 percent growth rate in 2000, exceeding projections of the World Bank of only 3.5 percent, according to Al-Hayat daily.
The Jordanian Central Bank also reported that in 2000 the manufacturing industries sector recorded the highest growth rate of all local economic sectors, growing by more than 5.6 percent. The real estate and business sector grew by 5.2 percent in 2000, compared with 1.7 percent the previous year.
Between 1996 and 1999 the country’s GDP growth averaged a mere two percent per year, following the Arab Gulf crisis, which began in August 1990. Earlier, however, in 1992, the economy experienced an upswing, due largely to the influx of money from repatriated workers returning from the Gulf.
In an attempt to spur growth, King Abdullah has undertaken limited economic reform, including partial privatization of some state owned enterprises and Jordan's entry into the World Trade Organization (WTO) during January 2000. However, debt, poverty, and unemployment continue to plague the Kingdom. ― (MENA Report)
© 2001 Mena Report (www.menareport.com)