EconSource: IMF Commends Jordan’s Economic Performance as Review Concludes

Follow the latest in economic news and developments about the Arab transition countries. 

The IMF, on Sunday, said Jordan’s economy has proven resilient in an increasingly difficult regional environment particularly disruptions of gas flow from Egypt, the conflict in Syria and the resulting flow of refugees, and the developments in Iraq and Gaza. The Fund added that growth is expected to reach 3.3 percent this year, up from 2.8 percent last year, helped by recovery in several sectors, including in agriculture and mining. [IMF, JNA]


Funds from the countries of the Gulf Cooperation Council (GCC) as foreign direct investment are steadily increasing, as well as remittances from Moroccans working in the Gulf. In over a decade, trade between Morocco and GCC has increased in value to MAD 29 billion. Moroccans working in the GCC sent home MAD 9 billion and tourism receipts from the Gulf region stood at MAD 3.7 billion in 2013. [MWN]


The Cabinet meeting held on Friday under the chairmanship of Prime Minister Mehdi Jomaa, adopted draft laws on financial agreements to carry out several projects in different areas, included with funds granted by the Japan International Co-operation Agency (JICA) and a loan from the World Bank. [Kapitalis (French), TAP]


The situation of state-owned banks will be more difficult than before, Governor of the Central Bank of Tunisia Chedly Ayari said after the postponement by the National Constituent Assembly (NCA) of the discussion of two draft laws on the consolidation of the financial foundations of public banks and the creation of asset management companies. [TAP]





Also of Interest:

Egypt to invest $14.5 billion in petrochemicals, refining over 5 years | Reuters

Egypt’s trade confidence hits all-time high: HSBC | Cairo Post

Egypt: PM – We are facing fierce war against unemployment | All Africa

Egyptian remittance up 30 percent | Arab News

Egypt tops Saudi aid list at $5.9 billion since 1990 | Amwal Al-Ghad
Is Libya’s central bank monopolizing the country’s economic potential? | Al Bawaba

No real reform has been conducted in Tunisia over past decade (Fraser Institute) | TAP