Water Loss Reduced to 46.5% as Sector Progress Reviewed Under Economic Vision - Jordan News
It is worth noting that a previous report incorrectly stated the water loss rate as 49%, while the accurate figure is 46.5%.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Jordan News
5 days ago
- Jordan News
Jordan's Central Bank Governor Projects Over 4% Medium-Term Economic Growth - Jordan News
Governor of the Central Bank of Jordan, Dr. Adel Al-Sharkas, affirmed that the national economy continues to grow steadily despite regional geopolitical challenges, thanks to a comprehensive economic modernization vision that redefined Jordan's approach to reform. اضافة اعلان Speaking during a policy dialogue organized by the Jordan Strategy Forum titled "Reform, Stability, Resilience: The Economic Trinity in a Changing World", Al-Sharkas emphasized the transition from reactive, short-term policy approaches to a proactive and integrated strategy aimed at enhancing economic resilience and sustainability. Key Highlights: Growth Outlook: The Central Bank estimates real GDP growth at 2.7% for 2025, with projections exceeding 4% by 2028, driven by large-scale infrastructure projects tied to the Economic Modernization Vision. Macroeconomic Resilience: Jordan's economy is backed by a robust monetary and fiscal framework, institutional strength, and a sound banking sector. These fundamentals have garnered growing international investor confidence, reflected in the declining yields of Jordan's Eurobonds in secondary markets. Growth Performance (2021–2024): The average growth rate stood at 2.9%, the highest since 2010, attributed to improvements in productivity, technological adoption, and human capital development. Investment contributed 40% to this growth, while the external sector accounted for 38%. Export & Energy Performance: National exports reached new markets, with non-traditional exports contributing 20.9% of GDP in 2024, up from 16.2% in 2016. Meanwhile, energy import costs dropped to 7% of GDP, down from a third in 2012, due to diversified energy sources and long-term gas agreements. Tourism and FDI: Despite a slight dip in June due to regional tensions, tourism revenues rose 11.9% in H1 2025, reaching $3.7 billion, with expectations to hit $7.7 billion by year's end. FDI inflows amounted to $1.6 billion (3.1% of GDP) in 2024, and remittances from Jordanians abroad rose to $3.6 billion, projected to reach $3.7 billion in 2025. Monetary Stability: Inflation was kept around 2% in H1 2025. The Jordanian dinar remains strong, supported by $22 billion in foreign reserves, covering 8.4 months of imports. The banking sector continues to expand credit facilities, with loans rising to JOD 35.3 billion in May 2025 and total deposits hitting JOD 47.7 billion. Financial Inclusion & Digital Payments: The Central Bank increased financial inclusion to 43.1% by 2022 and aims for 65% by 2028, while closing the gender gap from 53% to 22%. Digital transactions grew significantly, with over 537 million transactions totaling JOD 55.3 billion in 2024—equivalent to 146% of GDP. Fiscal Outlook: The government aims to reduce the primary deficit to 2% of GDP by 2025, targeting a primary surplus by 2027. The public debt-to-GDP ratio is expected to fall below 80% by 2028. Forward-Looking Plans: Preparations are underway for the 2026–2029 Executive Program of the Economic Modernization Vision, with new initiatives focusing on digitization, fintech, innovation, and expanded financial inclusion. Sectoral Collaboration & Private Dialogue Jordan Strategy Forum Chair Sharif Fares Sharaf emphasized the need for resilient policies amid global instability, while Executive Director Nisreen Barakat reaffirmed the Forum's role in facilitating evidence-based policy discussions. The session also featured input from Nadia Al-Saeed, who stressed the importance of regulatory clarity and effective banking oversight. Topics discussed included virtual asset legislation, SME support, and public-private partnerships in navigating economic uncertainties. Governor Al-Sharkas concluded with a direct Q&A session, addressing key economic concerns raised by forum participants and reaffirming the Central Bank's commitment to sustainable and inclusive growth.
Jordan News
7 days ago
- Jordan News
185,000 Jordanians Entered the Labor Market, 89,500 Exited in 2024 — Jordan Economic Forum - Jordan News
The Jordan Economic Forum released a fact sheet on Saturday titled 'New Jobs in Jordan in 2024: Where Are They Concentrated and Who Are They Created For?', analyzing net job creation as a key metric of the economy's ability to absorb new labor market entrants and reduce unemployment. اضافة اعلان According to the fact sheet, 184,926 individuals aged 15 and above joined the labor market in 2024, while approximately 89,584 exited, resulting in a net job creation of 96,421. This figure represents 96.4% of the annual target set under the Economic Modernization Vision, reflecting tangible efforts to foster sustainable employment and improve living standards. Gender & Sector Distribution Males accounted for 69.3% of the new jobs (66,804 jobs), while females made up 30.7% (29,617 jobs). 75.7% of jobs were created in the private sector, underscoring the impact of economic reforms. Public sector jobs made up 23.6% of the total. Jobs by Nationality The majority of the new jobs — 90% — went to Jordanian nationals, with 6.2% going to non-Jordanian Arabs and 3.7% to non-Arab foreigners, indicating a focus on employing the domestic workforce. Sectoral Breakdown The largest shares of new jobs were concentrated in: Manufacturing and wholesale/retail trade (each 15.4%) Public administration and defense (14.6%) Education (11.5%) Health (10.2%) This reflects a balanced contribution from both productive and service sectors, especially those with direct social impact. Geographic Distribution Amman led with 56.6% of net job creation. Zarqa followed with 11.6%, then Irbid with 9.5%. Ajloun had the lowest share at 0.4%. Unemployment Trends Despite progress, unemployment only dropped slightly from 22% in 2023 to 21.4% in 2024, suggesting that job creation — although near target — had a limited immediate impact on unemployment due to rising numbers of job seekers and graduates. Forum President's Remarks Forum Chairman Mazen Al-Hamoud stressed the need to: Continue supporting high-potential job-generating sectors. Invest in underdeveloped governorates. Focus on job quality and sustainability. He highlighted that the data indicates the Jordanian economy is becoming more dynamic in job creation, reflecting the positive outcomes of national policy and stimulus programs. However, continued effort is crucial to meet the broader goals of the Economic Modernization Vision, especially in integrating youth and new labor market entrants.
Ammon
7 days ago
- Ammon
Jordan's sectors added around 184,926 jobs during 2024
Ammon News - Jordan Economic Forum (JEF) issued a fact sheet on Saturday, titled "Job Creation in the Kingdom in 2024: Concentration and Beneficiary Groups". The paper tracks net job creation, a key tool for measuring the economy's capability to absorb new entrants to the labor market and mitigate worsening unemployment rates. The paper noted results of the 2024 Job Creation Survey showed approximately 184,926 individuals aged 15 and above had assumed new jobs, while around 89,584 others left the labor market during the same period. According to a JEF statement, the paper indicated that a total of about 96,421 new job opportunities were created in the Kingdom's public and private sectors, equivalent to approximately 96.4% of the annual target set within the Economic Modernization Vision (EMV). The statement said this growth reflects extent of efforts made to enhance labor market dynamism and "effective commitment" to the vision's path to generate "sustainable" jobs that contribute to reducing unemployment and improving living standards. On benficiary groups, the paper noted the new job opportunities were distributed at a rate of 69.3% for males, equivalent to 66,804 jobs, and 30.7% for females, equivalent to 29,617 jobs. The paper also indicated that the largest proportion of job opportunities created in 2024 was in the private sector, amounting to 75.7%, reflecting "success of economic policies and reforms in enhancing job opportunities, despite the surrounding geopolitical challenges. " In contrast, the Kingdom's public sector accounted for only 23.6% of these new jobs, indicating the private sector's "essential" role in achieving growth and employment goals within the Economic Modernization Vision. Given the nationality-based distribution of job opportunities in 2024, a "clear trend dominated to prioritize employment of Jordanian workers in the local market, with lower percentages allocated to foreign counterparts." The paper said majority of new jobs targeted Jordanian nationals, representing 90% of the total opportunities. However, non-Jordanian Arab nationalities accounted for 6.2% of the overall jobs, while non-Arabs received 3.7% of the total posts. In terms of the distribution of new job opportunities by economic activity, the paper noted Jordan's manufacturing, wholesale and retail trade sectors accounted for the largest share, with approximately equal percentages of 15.4% each.
