Jordan’s PM: Economy Grew by 4 Percent in First Half of Year
Despite regional political instability, Jordan's economy grew by four percent in the first half of 2001, Prime Minister Ali Abu Ragheb said on Tuesday.
However, he told Jordanian businessmen living abroad and potential investors that the economic growth, though in line with targets set by the World Bank and the IMF, did not reflect on all sectors and segments of society, reported the Jordan Times.
Jordan has been hard hit by the UN sanctions on Iraq, formerly a key trade partner, as well as the latest Palestinian uprising against 34 years of Israeli military occupation.
Nevertheless, the growth rate for the first half of this year is equal to the overall economic growth rates last year, claimed the premier.
“This shows that the kingdom's economy is moving on the right track,” Abu Ragheb said.
Addressing the 2nd Conference for Jordanian Businessmen and Investors, the premier said exports rose by 15 percent, investments grew by 45 percent and the industrial production index jumped by 9 percent during the first six months of this year, as compared to the corresponding period the year before.
Transactions at the Amman Stock Exchange increased by 70 percent and the market value increased by 10 percent, he added.
Furthermore, he said, the kingdom continued to enjoy monetary stability, with a stable dinar exchange rate as well as excellent foreign currency reserves – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)