Jordan’s Economy to Contract by 3.5% by End of 2020: Jordan Investment Commission

The economy of Jordan is forecast to shrink by 3.5% to the end of 2020, according to Dr Khalid Wazani, Chairman of Jordan Investment Commission (JIC), which is the national investment promotion agency of the country.

According to a working paper presented at the Post-COVID-19 Jordanian Economic Conference, Wazani stated that Jordan’s exports to its economic partners, including China and certain European countries, would decline.

In addition, Wazani stated that Jordan’s public debt ratio to gross domestic product will increase up to 110.8% at the end of 2020, and 112% over the next two years, after reaching 98.9% in 2019. Wazani also noted that several economic sectors i...