The Arab Investment and Export Credit Guarantee Corporation (Dhaman) recently published a report that forecasts an increase in the total volume of investment in the Kingdom in 2022, in comparison with 2021.
Gross Domestic Product
Total investment are expected to reach USD8.9 billion in Jordan this year, which would be a 17.8 percent increase in the total Gross Domestic Product (GDP), the report said.
According to Dhaman, the value of investment in Jordan last year would be USD8.4 billion making up 18.5 percent of the GDP for 2021.
As for investment in 2019 and 2018, it constituted 16.7 percent and 17.6 percent of the GDP, respectively, with a total value of USD7.5 billion and USD7.6 billion, also respectively.
According to Dhaman’s estimates, the Kingdom’s GDP will “continue to grow,” reaching USD47.5 billion in 2022 at a rate of 2.7 percent. Notably, the growth rate in 2018 and 2020 was 1.9 percent and 1.6 percent, respectively.
Other Indicators and Figures
GDP per capita could have risen to approximately USD4,394 last year from USD4,286 in 2020. The same figure stood at approximately USD4,425 in 2019 and USD4,341 in 2018, the report noted, expecting it rise up to USD4,565 in 2022.
Dhaman’s forecast also indicated a rise in inflation in the Kingdom by another two percent this year, which stood at 1.6 percent in 2021.
The report also expects a decrease in the budget deficit by 5.9 percent of GDP in 2022, compared to estimates of 7.8 percent last year, reaching USD2.8 billion instead of USD3.5 billion. Notably, the deficit in the period between 2018 and 2020 stood somewhere between USD1.9-3.9 billion.
In regards to Jordan’s foreign debt, the report expects it to amount to USD39.3 billion in 2022 or 82.7 percent of the GDP, compared to USD37.6 billion in 2021, USD34.3 billion in 2020, USD30.3 billion in 2019 and USD29.2 billion in 2018.
According to Dhaman’s estimates, the Kingdom’s foreign currency reserve will rise during 2022 to USD17.8 billion, compared to expectations of USD17.1 billion in 2021, covering approximately nine months of imports for each year.
Source: Petra News
More Reads:
Dhaman Says Jordan’s Economic Performance Expected to Improve in 2022
SHARE THIS POST
- Click to share on X (Opens in new window)
- Click to share on LinkedIn (Opens in new window)
- Click to share on WhatsApp (Opens in new window)
- More
- Click to share on Facebook (Opens in new window)
- Click to share on Pinterest (Opens in new window)
- Click to share on Telegram (Opens in new window)
- Click to share on Tumblr (Opens in new window)
- Click to share on Reddit (Opens in new window)
- Click to share on Pocket (Opens in new window)
- Click to email a link to a friend (Opens in new window)
- Click to print (Opens in new window)