Jordan's GDP to grow by 2.2% in 2020 — IMF

AMMAN — The Kingdom’s gross domestic product (GDP) is expected to grow by 2.2 per cent in 2020 and by 2.4 and 2.6 per cent in 2021 and 2022, respectively, according to the International Monetary Fund’s (IMF) World Economic Outlook.

The gradual GDP growth forecast has been supported by the improvement in the trade balance, as well as the strong performance in the services and tourism sector, the Jordan News Agency, Petra, reported on Thursday.

The report also indicated that global growth is projected to pick up by 2.5 per cent in 2020, slightly higher than the low level registered in 2019, which was registered following the global financial crisis. Economic performance in a number of emerging markets and developing countries is experiencing a sharp drop in productivity-related rates since the global financial crisis, the report added.