Jordan: Staff Report for the 2012 Article IV Consultation
International Monetary Fund, May 25, 2012 - Business & Economics - 70 pages
This 2012 Article IV Consultation highlights that the pace of economic activity in Jordan remains subdued. Following a period of robust growth during 2000–09 supported by a favorable external environment, economic activity slowed sharply. Jordan is also facing risks from a further deterioration in its terms of trade and unrest in neighboring countries. Executive Directors have commended the authorities’ track record of prudent and effective macroeconomic management. Directors have also welcomed the fiscal tightening in the 2012 budget and the authorities’ three-year fiscal reform agenda.
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adverse Arab Gas Pipeline Article IV consultation Assessment assets Bank of Jordan banking system borrowing budget capital adequacy Central Bank continue countries current account deficit debt ratio Debt Sustainability debt-to-GDP ratio domestic effective exchange rate electricity employment enhanced excluding grants expenditure exports external debt February ﬁnance financing needs fiscal and external fiscal balance fiscal consolidation ﬂows fuel prices Fund staff estimates gas supplies global Gulf Cooperation Council improving inclusive growth increased Indicators inﬂation expectations interest rate International Monetary Fund international reserves investment Jordanian authorities Jordanian dinar Jordanian economy labor market macroeconomic medium medium-term METAC million natural gas non-performing loans oil prices outlook percent of GDP potential output private sector Program public debt real effective exchange real GDP growth reforms remains remittances revenue risk Selected Issues shocks Sinai Peninsula Sources strategy subsidies sukuk tightening tourism receipts vulnerabilities World Bank