Jordan's economy is in good shape and "capable of adapting itself to local and external shocks," Governor of the Central Bank of Jordan (CBJ) , Umayyah Touqan, on Tuesday.
"Jordan's economy is moving in the right direction," Touqan said in a lecture on Tuesday, hosted by the Jordanian Exporters Association, Petra news agency reported.
Economic growth reached 7.2 per cent in 2005, he added. According to him, economic growth rate is expected to hit 5 - 6 percent this year. Inflation rate is maintained at 3.5 per cent and CBJ reserves of foreign currency exceeded 5 billion, he noted.
The Governor said the general debt receded and the rise in budget deficit has been controlled through controlling expenditures and increasing revenues.
