Jordanians Exceptionally Resilient, Public Debt at Dangerous Levels: WB Study

تم نشره في Tue 28 February / Feb 2017. 01:00 AM - آخر تعديل في Tue 28 February / Feb 2017. 03:43 PM
  • The World Bank building in Washington, USA - (Archives)

AMMAN —AlGhad— A World Bank (WB) study, published late in 2016, shows that Jordan’s GDP has been growing by 4.9 per cent on average, up until 2014, whereas now, according to the WB, it is farfetched that Jordan attains 2017’s 7.5 per cent target rate, given public debt has reached unprecedented and dangerous levels.

Within the year, close to one third of the Kingdom’s population has slid into poverty, that is aside to the culminating problems of unemployment/

Meanwhile, access to funding remains a bigger challenge for lower income households, as the public sectors is overly inflated and incapacitated.

In the aftermath of the 1988-89 crisis, since 1990 up until about two years ago, the economy has been growing steadily, coupled with an average 2.2 per cent growth in per capital income.

Jordanians, according to the WB, have proven to be exceptionally resilient and capable of enduring incredible difficulties resulting from thorough reforms. And compared to the 1980’s, Jordan’s achievement are considered a success.

However, the financial concessions extended by the state in favour of social stability are incurring a lot of weight on Jordan’s economy.