Minister of State for Economic Affairs Comments on IMF Praise for Jordan's Economic Resilience - Jordan News
Minister of State for Economic Affairs Comments on IMF Praise for Jordan's Economic Resilience The Minister of State for Economic Affairs, Muhannad Shehadeh, expressed his gratitude to all those who contributed to the swift and efficient completion of the latest IMF mission review, emphasizing that it reflects the government's ongoing commitment to strengthening national economic stability. اضافة اعلان In a post on his LinkedIn page, Shehadeh said: "I am proud to express my appreciation to everyone who contributed to the successful and efficient completion of the review process. Your dedication and hard work are deeply valued." Commenting on the International Monetary Fund's statement, which noted that Jordan's economy continues to show resilience and maintain macroeconomic stability despite significant external shocks, Shehadeh said this international recognition is a testament to the strength and adaptability of the Jordanian economy: 'This achievement is proof of our economic resilience. Despite repeated external shocks, we have demonstrated our ability to react swiftly, remain flexible, and adapt.' He affirmed the government's commitment—under the leadership of Prime Minister Dr. Jaafar Hassan—to taking the necessary measures to stimulate economic growth in line with His Majesty King Abdullah II's vision for modernization. Completion of Third Review of Extended Fund Facility The IMF team concluded its mission to Jordan, which took place from April 6 to 17, 2025, as part of the third review under the Extended Fund Facility (EFF). The team reached a staff-level agreement with Jordanian authorities, and a report will be presented to the IMF's Executive Board following management approval. IMF Mission Chief Ron van Rooden stated: 'Program performance remains strong despite a challenging external environment. All quantitative performance criteria were met, and there has been tangible progress on structural benchmarks. The program is on track to meet its overarching objectives, including good progress toward meeting benchmark requirements for future reviews.' The statement noted that, despite rising global uncertainty—due to escalating trade tensions and continued regional conflicts—growth in Jordan is picking up. Economic growth is projected to reach 2.7% in 2025, supported by recovering domestic activity, tourism, and increased foreign investment inflows. The current account deficit is expected to be contained at 5.5% of GDP, with rising tourism revenues offsetting higher imports and potential export challenges from global trade barriers. Inflation is projected to remain low, at just over 2%, reflecting the Central Bank of Jordan's strong commitment to maintaining monetary stability. The bank continues to uphold its peg of the Jordanian dinar to the US dollar, backed by robust foreign currency reserves. The statement also highlighted notable progress in public policy discussions aimed at addressing long-term vulnerabilities in the water and electricity sectors, as well as strengthening Jordan's preparedness for health emergencies, including future pandemics. These efforts could be supported through a Resilience and Sustainability Facility (RSF).
— (Petra News Agency)
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