PM highlights strength of Jordanian Dinar

Prime Minister Bisher Al-Khasawneh underscored the resilience of Jordan's economy, citing the strength and stability of the Jordanian Dinar, attributed to the prudent policies of the Central Bank of Jordan (CBJ).

He revealed that Jordan boasts an unprecedented foreign currency reserve totaling JOD 19 billion.

Khasawneh reflected on the economic trajectory of Jordan, acknowledging the challenges posed by external factors, notably the Israeli Occupation's war on Gaza. He noted that Jordan was on the cusp of achieving a growth rate of 2.8 percent in the final quarter of 2023, ultimately reaching 2.6 percent amidst the war.

In a significant development, Khasawneh highlighted that credit rating agency Moody's elevated Jordan's credit rating for the first time in 21 years. This decision, he emphasized, reflects renewed confidence in Jordan's economy and underscores the trust of investors and traders in Jordanian treasury bonds.

Also Read: First in 21 years: Jordan’s credit rating upgraded to Ba3

Khasawneh praised the comprehensive political and economic reforms as the nation approaches its second centennial, as the government aims to achieve ambitious growth rates of up to 5.5 percent.

Khasawneh stressed the importance of investment in driving these reforms, with a specific focus on job creation and the increased participation of youth and women in political affairs.

Acknowledging the private sector's role, Khasawneh commended its resilience in the face of challenges. He highlighted the government's initiatives to support industries and preserve jobs amidst the ongoing recovery from the COVID-19 pandemic.

Khasawneh reiterated the government's commitment to restoring stability as a foundation for gradual prosperity. He emphasized the importance of establishing a stable environment conducive to sustainable economic growth, recognizing that this process requires careful and deliberate efforts.