Finance Ministry, IMF expect Jordan to achieve 3.4% economic growth

Ministry of Finance expected that the Kingdom’s economic growth in 2010 would increase by 3.4% compared to 2.3% in 2009.

The economic growth witnessed a big decline last year due to consequences of the global financial crisis.

In a joint press conference with a team from the International Monetary Fund (IMF), Minister of Finance Muhammad Abu Hammour said that 2010 growth expectations were positive, but the regional and global developments entailed reconsidering growth levels.

Earlier, the government and the IMF expected that the Kingdom’s gross domestic product (GDP) would reach 3.

9% in 2010, but this expectation was reconsidered due to developments, which highly affected national, regional and international economies.

Deputy Director of the IMF’s Middle East and Central Asia Department Ratna Sahay said the team’s talks with the government were “constructive”, commending the government’s procedures in dealing with the global economic downturn.

IMF adviser for the Middle East and Central Asia Paul Cashin expected that Jordan’s economic growth would continue this year, noting accomplishments achieved in the Kingdom’s economic sector.

Earlier today, the minister met the IMF team and discussed outcomes of the team’s meetings with a number of Jordanian officials from the public and private sectors.

The minister briefed the team on the government’s efforts to support national economy, curtail expending, attract investments and activate economic performance.

He also stressed the need to continue cooperation and coordination with the IMF.

The state budget deficit, during the first five month of this year, stood at JD137 million compared to JD348 million in 2009, the minister added.

Jordan news agensy Petra