Jordan: First Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; and Staff Report
IMF Staff Country Reports, July 1, 2024
Source details
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- Jordan: First Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; and Staff Report
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Bibliographic details
- Published: July 1, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400282447.002
Macroeconomic outlook and near-term projections
- Jordan’s economy continues to show resilience despite a challenging external environment.
- The economy continues to grow, albeit at a somewhat slower pace.
- Inflation is low, and reserve buffers are strong.
- Growth is projected to pick up pace in 2025, contingent upon the Israel-Gaza conflict ending and its impact fading.
- Uncertainty is high, however, and structural challenges remain, with continued high unemployment.
Program implementation and structural benchmarks
- Strong progress was made in implementing structural benchmarks (SBs).
- All six SBs for the first review were met.
- Good progress is being made toward meeting SBs for the next review.
Policy stance and authorities’ commitments
- The authorities remain firmly committed to sound macro-economic policies and advancing structural reforms.
- Policy objectives include maintaining macro stability, further strengthening economic resilience in the face of successive external shocks, and fostering stronger, job-rich growth.
- Steadfast implementation of structural reforms is crucial to create a more dynamic private sector that can generate sufficient jobs and contribute to higher living standards.
Key subject areas covered
- External debt
- Fiscal policy
- Fiscal stance
- Macrostructural analysis
- Public debt
- Structural reforms
Source: IMF Staff Country Report, July 1, 2024.
Content in this bundle
- Executive Summary