Growth Up Slightly, Fails Expected Estimates

تم نشره في Sat 1 July / Jul 2017. 12:00 AM
  • Index Rise, up - (Expressive)

AMMAN —AlGhad— Economists and experts agree that the growth rate index attained during the first quarter of the year, Q1-2017, at 2.2 per cent, has failed expected estimates and remains fairly below the required threshold for economic recovery.

The World Bank estimated the GDP growth rate median in 2017 at 2.3 per cent, as other estimates range between 2.6 and 3 per cent for the years 2017-2019.

Minister of Public Development, Dr Maher Madadha, told AlGhad that growth rates will not reach needed levels, so long as the negative economic circumstances sustain.

The region, he said, is far from stable, and exportation is weak, while economic policy remains unimaginative and short on stimulation.

Yarmouk University Economics Professor, Dr Qassem Hammouri, as well, said that the scales of inbound investment do not omen promising growth rates.

Dr Hammouri sustains that the rates attained will not help address the issues of poverty and unemployment.

Others specialists see these rates as rather acceptable, given the endurance internal and regional conditions which have culminated the economic predicament.

Economist Zyan Zawan conservatively said that the announced rate for the first quarter is “indeed not bad”.

However, he underscored, the government needs to revisit its criteria and measurements, especially since these rates have not reflected on the Jordanians’ quality of life or level of income.

Official figures indicate finance, insurance, and real estate sectors have contributed 0.71 per cent of the overall growth rate attained.

Agriculture contributed by 0.3 per cent, followed by a 0.23 per cent contribution by the mining and extraction industry, and 0.22 per cent by transport and telecoms.