The Central Bank Of Jordan (CBJ) predicts a 5.1 percent growth in the nation’s Gross Domestic Product (GDP) in fixed prices over the course of 2002. The bank attributes the possible increase to the Kingdom’s socio-economic reform plan.
In a recently published CBJ report, the bank also predicts a 12.6 percent rise in domestic revenues and a 9.8 percent in public spending leading to a drop in budget deficits reaching $435 million compared to 7.1 percent during 2001. Estimated foreign aid for 2002 totaled close to $242 million, making the budget deficit 2.9 percent of the GDP compared to three percent in 2001.
Established in 1964, CBJ enjoys the status of an independent and autonomous corporate body, although its capital is owned entirely by the government. It issues and regulates bank notes and coins, maintains the Kingdom’s reserves of gold and foreign exchange and advises the government on the formulation and implementation of fiscal economic policies. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
