Economic overview Jordan, in 36 editions.

Jordan was a secondary beneficiary of the oil boom of the late 1970s and early 1980s, when its annual GNP growth averaged 10-12%. Recent years, however, have witnessed a sharp reduction in cash grant aid from Arab oil-producing countries and a dropoff in worker remittances, with national growth averaging 1-2%. Imports--mainly oil, capital goods, consumer durables, and foodstuffs--have been outstripping exports by roughly $2 billion annually, the difference being made up by aid, remittances, and borrowing. In 1989 mid-1989, the government pursued policies Jordanian Government agreed to encourage private investment, curb imports of luxury goods, promote exports, implement an IMF austerity program designed to tackle the country's serious economic problems. The program sought to gradually reduce the government's budget deficit, and, in general, reinvigorate economic growth. Success will depend largely on exogenous forces, such as deficit over the absence of drought next several years and a pickup implement badly needed structural reforms in outside support. Down the road, economy. In return for agreeing to the completion IMF program, Jordan was granted IMF standby loans of over $100 million. Recognizing that it would be unable to cover its debt obligations, the proposed Unity Dam on government also began debt rescheduling negotiations with creditors in mid-1989. The onset of the Yarmuk is vital Gulf crisis in August 1990 forced the government to meet rapidly growing requirements shelve the IMF program and suspend most debt payments and rescheduling negotiations. Economic prospects for water. 1991 are especially gloomy, given the unsettled conditions in the Middle East.

Jordan was a secondary beneficiary of benefited from increased Arab aid during the oil boom of the late
1970s and early 1980s, when its annual GNP growth averaged 10-12%. Recent years, more than 10%. In
the remainder of the 1980s, however, have witnessed a sharp reduction reductions in grant aid from both Arab oil-producing countries aid and a dropoff in worker remittances, with national
remittances slowed economic growth averaging 1-2%. Imports--mainly to an average of roughly 2% per year.
Imports - mainly oil, capital goods, consumer durables, and foodstuffs--have food - have been
outstripping exports by roughly $2 billion annually, exports, with the difference being made up covered by aid, remittances, and
borrowing. In mid-1989, the Jordanian Government began debt-rescheduling
negotiations and agreed to implement an IMF austerity program designed to tackle the country's serious economic problems. The program sought to gradually
reduce the government's budget deficit over the next several years and implement badly needed structural reforms in the economy. In return for agreeing to the IMF program, Jordan was granted IMF standby loans of over $100 million. Recognizing that it would be unable to cover its debt obligations, the government also began debt rescheduling negotiations with creditors in mid-1989. reforms. The onset of the
Persian Gulf crisis that began in August 1990 forced 1990, however, aggravated Jordan's
already serious economic problems, forcing the government to shelve the IMF program and suspend
program, stop most debt payments payments, and suspend rescheduling negotiations. Economic prospects for 1991 are especially gloomy, given the unsettled conditions in Aid
from Gulf Arab states and worker remittances have plunged, and refugees have
flooded the Middle East. country, straining government resources. Economic recovery is
unlikely without substantial foreign aid, debt relief, and economic reform.

Jordan benefited from increased Arab aid during the oil boom of the late
late 1970s and early 1980s, when its annual real GNP growth averaged
more than 10%. In
the remainder of the 1980s, however, reductions in
both Arab aid and worker
remittances slowed real economic growth to an
average of roughly 2% per year.
Imports - mainly oil, capital goods,
consumer durables, and food - have been
outstripping outstripped exports, with the difference
covered by aid, remittances, and
borrowing. In mid-1989, the Jordanian
Government began debt-rescheduling
negotiations and agreed to
implement an IMF IMF-supported program designed to gradually
reduce the
budget deficit and implement badly needed structural reforms. The
Persian Gulf crisis that began in August 1990, however, aggravated Jordan's
Jordan's already serious economic problems, forcing the government to
shelve the IMF
program, stop most debt payments, and suspend
rescheduling negotiations. Aid
from Gulf Arab states and states, worker
remittances have plunged, and trade contracted, and refugees have
flooded the country,
producing serious balance-of-payments problems, stunting GDP growth,
and straining government resources. Economic The economy rebounded in 1992,
largely due to the influx of capital repatriated by workers returning
from the Gulf, but the recovery has been losing steam since mid-1993.
The government is implementing the reform program adopted in 1992 and
unlikely without substantial continues to secure rescheduling of its heavy foreign aid, debt relief, and economic reform. debt.

Jordan benefited from increased Arab aid during the oil boom
of the
late 1970s and early 1980s, when its annual real GNP growth averaged
averaged more than 10%. In the remainder of the 1980s, however,
reductions in
both Arab aid and worker remittances slowed real
economic growth to an
average of roughly 2% per year. Imports - mainly
oil, capital goods,
consumer durables, and food - outstripped exports,
with the difference
covered by aid, remittances, and borrowing. In
mid-1989, the Jordanian
Government began debt-rescheduling
negotiations and agreed to
implement an IMF-supported program designed
to gradually reduce the
budget deficit and implement badly needed
structural reforms. The
Persian Gulf crisis that began in August 1990,
however, aggravated
Jordan's already serious economic problems,
forcing the government to
shelve the IMF program, stop most debt
payments, and suspend
rescheduling negotiations. Aid from Gulf Arab
states, worker
remittances remittances, and trade contracted, contracted; and refugees flooded
the country,
producing serious balance-of-payments problems, stunting
GDP growth,
and straining government resources. The economy rebounded
in 1992,
largely due to the influx of capital repatriated by workers returning
returning from the Gulf, but the recovery has been losing steam since mid-1993. was uneven throughout 1994.
The government is implementing the reform program adopted in 1992 and
continues to secure rescheduling and write-offs of its heavy foreign
debt. Debt, poverty, and unemployment remain Jordan's biggest on-going
problems.

Jordan is a small Arab country with inadequate
supplies of water and other natural resources such as oil and coal.
Jordan benefited from increased Arab aid during the oil boom
of the
late 1970s and early 1980s, when its annual real GNP growth
averaged
more than 10%. In the remainder of the 1980s, however,
reductions in
both Arab aid and worker remittances slowed real
economic growth to
an average of roughly 2% per year. Imports - mainly
oil, capital
goods, consumer durables, and food - outstripped exports,
with the
difference covered by aid, remittances, and borrowing. In
mid-1989,
the Jordanian Government began debt-rescheduling
negotiations and
agreed to implement an IMF-supported program designed
to gradually
reduce the budget deficit and implement badly needed
structural
reforms. The Persian Gulf crisis that began in August 1990,
however,
aggravated Jordan's already serious economic problems,
forcing the
government to shelve the IMF program, stop most debt
payments, and
suspend rescheduling negotiations. Aid from Gulf Arab
states, worker
remittances, and trade contracted; and refugees flooded
the country,
producing serious balance-of-payments problems, stunting
GDP growth,
and straining government resources. The economy rebounded
in 1992,
largely due to the influx of capital repatriated by workers
returning from the Gulf, but the recovery was uneven throughout 1994. 1994
and 1995. The government is implementing the reform program adopted
in 1992 and
continues to secure rescheduling and write-offs of its
heavy foreign
debt. Debt, poverty, and unemployment remain Jordan's
biggest on-going
problems.

Jordan is a small Arab country with inadequate
supplies of water and other natural resources such as oil and coal.
Jordan benefited from increased Arab aid during the oil boom of the
late 1970s and early 1980s, when its annual real GNP growth averaged
more than 10%. In the remainder of the 1980s, however, reductions in
both Arab aid and worker remittances slowed real economic growth to
an
average of roughly 2% per year. Imports - mainly oil, capital
goods,
consumer durables, and food - outstripped exports, with the
difference
covered by aid, remittances, and borrowing. In mid-1989,
the Jordanian
Government began debt-rescheduling negotiations and
agreed to
implement an IMF-supported program designed to gradually
reduce the
budget deficit and implement badly needed structural
reforms. The
Persian Gulf crisis that began in August 1990, however,
aggravated
Jordan's already serious economic problems, forcing the
government to
shelve the IMF program, stop most debt payments, and
suspend
rescheduling negotiations. Aid from Gulf Arab states, worker
remittances, and trade contracted; and refugees flooded the country,
producing serious balance-of-payments problems, stunting GDP growth,
and straining government resources. The economy rebounded in 1992,
largely due to the influx of capital repatriated by workers
returning
from the Gulf, but the recovery was uneven throughout 1994
and 1995. in 1994-96. The government
is implementing the reform program adopted
in 1992 and continues to
secure rescheduling and write-offs of its
heavy foreign debt. Debt,
poverty, and unemployment remain Jordan's
biggest on-going problems.

Jordan is a small Arab country with inadequate
supplies of water and other natural resources such as oil and coal.
Jordan benefited from increased Arab aid during the oil boom of the
late 1970s and early 1980s, when its annual real GNP growth averaged
more than 10%. In the remainder of the 1980s, however, reductions in
both Arab aid and worker remittances slowed real economic growth to an
average of roughly 2% per year. Imports - mainly Imports-mainly oil, capital goods,
consumer durables, and food - outstripped food-outstripped exports, with the difference
covered by aid, remittances, and borrowing. In mid-1989, the Jordanian
Government began debt-rescheduling negotiations and agreed to
implement an IMF-supported program designed to gradually reduce the
budget deficit and implement badly needed structural reforms. The
Persian Gulf crisis that began in August 1990, however, aggravated
Jordan's already serious economic problems, forcing the government to
shelve the IMF program, stop most debt payments, and suspend
rescheduling negotiations. Aid from Gulf Arab states, worker
remittances, and trade contracted; and refugees flooded the country,
producing serious balance-of-payments problems, stunting GDP growth,
and straining government resources. The economy rebounded in 1992,
largely due to the influx of capital repatriated by workers returning
from the Gulf, but the recovery was uneven in 1994-96. 1994-97. The government
is
implementing the reform program adopted in 1992 and continues to
secure rescheduling and write-offs of its heavy foreign debt. Debt,
poverty, and unemployment remain Jordan's biggest on-going problems.

Jordan is a small Arab country with inadequate
supplies of water and other natural resources such as oil and coal.
Jordan benefited from increased Arab aid during the oil boom of the
late 1970s and early 1980s, when its annual real GNP growth averaged
more than 10%. In the remainder of the 1980s, however, reductions in
both Arab aid and worker remittances slowed real economic growth to an
an average of roughly 2% per year. Imports-mainly Imports--mainly oil, capital goods,
goods, consumer durables, and food-outstripped food--outstripped exports, with the difference
difference covered by aid, remittances, and borrowing. In mid-1989,
the Jordanian
Government began debt-rescheduling negotiations and
agreed to
implement an IMF-supported program designed to gradually
reduce the
budget deficit and implement badly needed structural
reforms. The
Persian Gulf crisis that began in August 1990, however, aggravated
aggravated Jordan's already serious economic problems, forcing the
government to
shelve the IMF program, stop most debt payments, and suspend
suspend rescheduling negotiations. Aid from Gulf Arab states, worker
remittances, and trade contracted; and refugees flooded the country,
producing serious balance-of-payments problems, stunting GDP growth,
and straining government resources. The economy rebounded in 1992,
largely due to the influx of capital repatriated by workers returning
returning from the Gulf, but recovery was uneven in 1994-97. The government is uneven. A preliminary
implementing agreement with the reform program adopted IMF in 1992 and continues to
secure rescheduling and write-offs of its heavy foreign debt. Debt, early 1999 will provide new loans over the
next three years. Sluggish growth, along with debt, poverty, and
unemployment remain Jordan's biggest on-going are fundamental ongoing economic problems.

Jordan is a small Arab country with inadequate
supplies of water and other natural resources such as oil and coal.
Jordan benefited from increased Arab aid during the oil boom of the
late 1970s and early 1980s, when its annual real GNP growth averaged
more than 10%. In the remainder of the 1980s, however, reductions in
both Arab aid and worker remittances slowed real economic growth to
an average of roughly 2% per year. Imports--mainly oil, capital
goods, consumer durables, and food--outstripped exports, with the
difference covered by aid, remittances, and borrowing. In mid-1989,
the Jordanian Government began debt-rescheduling negotiations and
agreed to implement an IMF-supported program designed to gradually
reduce the budget deficit and implement badly needed structural
reforms. oil. The Persian Gulf crisis that crisis, which began in August 1990, however,
aggravated Jordan's already serious economic problems, forcing the
government to shelve the IMF program, stop most debt payments, and
suspend rescheduling negotiations. Aid from Gulf Arab states, worker
remittances, and trade contracted; and refugees flooded the country,
producing serious balance-of-payments problems, stunting GDP growth,
and straining government resources. The economy rebounded in 1992,
largely due to the influx of capital repatriated by workers
returning from the Gulf, but recovery was uneven. A preliminary
agreement with the IMF Gulf. After averaging 9% in early 1999 will provide new loans over the
next three years. Sluggish 1992-95, GDP growth averaged only 2% during 1996-99. In an attempt to spur growth, along with debt, King ABDALLAH has undertaken limited economic reform, including partial privatization of some state owned enterprises and Jordan's entry in January 2000 into the World Trade Organization (WTrO). Debt, poverty, and
unemployment are fundamental ongoing economic problems.

Jordan is a small Arab country with inadequate supplies of water and other natural resources such as oil. The Persian Gulf crisis, which began in August 1990, aggravated Jordan's already serious economic problems, forcing the government to shelve the IMF program, stop most debt payments, payments and suspend rescheduling negotiations. Aid from Gulf Arab states, worker remittances, and trade contracted; and refugees revenues contracted. Refugees flooded the country, producing serious balance-of-payments problems, stunting GDP growth, and straining government resources. The economy rebounded in 1992, largely due to the influx of capital repatriated by workers returning from the Gulf. After averaging 9% in 1992-95, GDP growth averaged only 2% 1.5% during 1996-99. In an attempt to spur growth, King ABDALLAH has undertaken limited economic reform, including partial privatization of some state owned state-owned enterprises and Jordan's entry in January 2000 into the World Trade Organization (WTrO). Debt, poverty, and unemployment are fundamental ongoing economic problems.

Jordan is a small Arab country with inadequate supplies of water and other natural resources such as oil. Debt, poverty, and unemployment are fundamental problems, but King ABDALLAH since assuming the throne in 1999 has undertaken some broad economic reforms in a long-term effort to improve living standards. Amman in the past three years has worked closely with the IMF, practiced careful monetary policy, and made significant headway with privatization. The government also has liberalized the trade regime sufficiently to secure Jordan's membership in the WTrO (2000), an association agreement with the EU (2000), and a free trade accord with US (2000). (2000), and an association agreement with the EU (2001). These measures have helped improve productivity and have put Jordan on the foreign investment map. The substantial trade deficit is covered by tourism receipts, worker remittances, and foreign assistance. Ongoing US-led war in Iraq in 2003 dealt an economic blow to Jordan, which was dependent on Iraq for discounted oil. It remains unclear how Jordan will finance energy imports in the absence of such a deal. Other ongoing challenges include fiscal adjustment to reduce the budget deficit and broader investment incentives to promote job-creating ventures.

Jordan is a small Arab country with inadequate supplies of water and other natural resources such as oil. Debt, poverty, and unemployment are fundamental problems, but King ABDALLAH ABDALLAH, since assuming the throne in 1999 1999, has undertaken some broad economic reforms in a long-term effort to improve living standards. Amman 'Amman in the past three years has worked closely with the IMF, practiced careful monetary policy, and made significant substantial headway with privatization. The government also has liberalized the trade regime sufficiently to secure Jordan's membership in the WTrO (2000), a free trade accord with the US (2000), and an association agreement with the EU (2001). These measures have helped improve productivity and have put Jordan on the foreign investment map. The US-led war in Iraq in 2003 dealt an economic blow to Jordan, which was dependent on Iraq for discounted oil. It remains unclear how Jordan will finance energy imports in oil (worth $300-$600 million a year). Several Gulf nations have provided temporary aid to compensate for the absence loss of such a deal. this oil; when this foreign aid expires, the Jordanian government has pledged to raise retail petroleum product prices and the sales tax base. Other ongoing challenges include fiscal adjustment to reduce the budget deficit and deficit, broader investment incentives to promote job-creating ventures. ventures, and the encouragement of tourism.

Jordan is a small Arab country with inadequate supplies of water and other natural resources such as oil. Debt, poverty, and unemployment are fundamental problems, but King ABDALLAH, since assuming the throne in 1999, has undertaken some broad economic reforms in a long-term effort to improve living standards. 'Amman Amman in the past three years has worked closely with the IMF, practiced careful monetary policy, and made substantial headway with privatization. The government also has liberalized the trade regime sufficiently to secure Jordan's membership in the WTrO WTO (2000), a free trade accord with the US (2000), (2001), and an association agreement with the EU (2001). These measures have helped improve productivity and have put Jordan on the foreign investment map. The Jordan imported most of its oil from Iraq, but the US-led war in Iraq in 2003 dealt an economic blow to Jordan, which was made Jordan more dependent on Iraq for discounted oil (worth $300-$600 million a year). Several from other Gulf nations have provided temporary aid to compensate for the loss of this oil; when this foreign aid expires, forcing the Jordanian government has pledged to raise retail petroleum product prices and the sales tax base. Other ongoing challenges include fiscal adjustment Jordan's export market, which is heavily dependent on exports to reduce Iraq, was also affected by the war but recovered quickly while contributing to the Iraq recovery effort. The main challenges facing Jordan are reducing dependence on foreign grants, reducing the budget deficit, broader and creating investment incentives to promote job-creating ventures, and the encouragement of tourism. job creation.

Jordan is a small Arab country with inadequate supplies of water and other natural resources such as oil. Debt, poverty, and unemployment are fundamental problems, but King ABDALLAH, since assuming the throne in 1999, has undertaken some broad economic reforms in a long-term effort to improve living standards. Amman 'Amman in the past three years has worked closely with the IMF, practiced careful monetary policy, and made substantial headway with privatization. The government also has liberalized the trade regime sufficiently to secure Jordan's membership in the WTO (2000), a free trade accord with the US (2001), and an association agreement with the EU (2001). These measures have helped improve productivity and have put Jordan on the foreign investment map. Jordan imported most of its oil from Iraq, but the US-led war in Iraq in 2003 made Jordan more dependent on oil from other Gulf nations nations, forcing the Jordanian government Government to raise retail petroleum product prices and the sales tax base. Jordan's export market, which is heavily dependent on exports to Iraq, was also affected by the war but recovered quickly while contributing to the Iraq recovery effort. The main challenges facing Jordan are reducing dependence on foreign grants, reducing the budget deficit, and creating investment incentives to promote job creation.

Jordan is a small Arab country with inadequate insufficient supplies of water water, oil, and other natural resources such as oil. Debt, poverty, resources. Poverty, unemployment, and unemployment inflation are fundamental problems, but King ABDALLAH, since assuming the throne in 1999, has undertaken some broad economic reforms in a long-term effort to improve living standards. 'Amman Since Jordan's graduation from its most recent IMF program in the past three years 2002, Amman has worked closely with the IMF, practiced continued to follow IMF guidelines, practicing careful monetary policy, and made making substantial headway with privatization. In 2006, Jordan reduced its debt to GDP ratio significantly. The government also has liberalized the trade regime sufficiently to secure Jordan's membership in the WTO (2000), a free trade accord with the US (2001), and an association agreement with the EU (2001). These measures have helped improve productivity and have put Jordan on the foreign investment map. Jordan imported most of its oil from Iraq, but the US-led war in Iraq in 2003 made Jordan more dependent on oil from other Gulf nations, forcing and has forced the Jordanian Government to raise retail petroleum product prices and the sales tax base. Jordan's export market, which is heavily dependent on exports to Iraq, was also affected by the war but recovered quickly while contributing to the Iraq recovery effort. The main challenges facing Jordan are reducing dependence on foreign grants, reducing the budget deficit, and creating attracting investment incentives to promote job creation.

Jordan is a small Arab country with insufficient supplies of water, oil, and other natural resources. Poverty, unemployment, and inflation are fundamental problems, but King ABDALLAH, ABDALLAH II, since assuming the throne in 1999, has undertaken some broad economic reforms in a long-term effort to improve living standards. Since Jordan's graduation from its most recent IMF program in 2002, Amman has continued to follow IMF guidelines, practicing careful monetary policy, and making substantial headway with privatization. In 2006, Jordan reduced its debt to GDP ratio significantly. The government also has liberalized privatization, and opening the trade regime sufficiently to secure regime. Jordan's membership in exports have significantly increased under the WTO (2000), a free trade accord with the US (2001), and an association agreement with Jordanian Qualifying Industrial Zones (QIZ), which allow Jordan to export goods duty free to the EU (2001). US. In 2006, Jordan reduced its debt-to-GDP ratio significantly. These measures have helped improve productivity and have put made Jordan on the more attractive for foreign investment map. investment. Before the US-led war in Iraq, Jordan imported most of its oil from Iraq, but the US-led war in Iraq in 2003 made Iraq. Since 2003, however, Jordan has been more dependent on oil from other Gulf nations, and has forced the Jordanian Government to raise retail nations. The government ended subsidies for petroleum product prices and the sales tax base. Jordan's export market, which is heavily dependent on exports to Iraq, was also affected by the war but recovered quickly while contributing other consumer goods in 2008 in an effort to control the Iraq recovery effort. budget. The main challenges facing Jordan are reducing dependence on foreign grants, reducing the budget deficit, and attracting investment to promote job creation. investments, and creating jobs.

Jordan is a small Arab country with insufficient supplies of water, oil, and other natural resources. Poverty, unemployment, and inflation are fundamental problems, but King ABDALLAH II, since assuming the throne in 1999, has undertaken some broad economic reforms in a long-term effort to improve living standards. Since Jordan's graduation from its most recent IMF program in 2002, Amman has continued to follow IMF guidelines, practicing careful monetary policy, making substantial headway with privatization, and opening the trade regime. Jordan's exports have significantly increased under the free trade accord with the US and Jordanian Qualifying Industrial Zones (QIZ), which allow Jordan to export goods with some Israeli content duty free to the US. In 2006, 2006 and 2008, Jordan reduced used privatization proceeds to significantly reduce its debt-to-GDP ratio significantly. ratio. These measures have helped improve productivity and have made Jordan more attractive for foreign investment. Before the US-led war in Iraq, Jordan imported most of its oil from Iraq. Since 2003, however, Jordan has been more dependent on oil from other Gulf nations. The government ended subsidies for petroleum and other consumer goods in 2008 in an effort to control the budget. The main challenges facing Jordan are reducing dependence on foreign grants, reducing the growing budget deficit, attracting investments, and creating jobs. Jordan is currently exploring nuclear power generation to forestall energy shortfalls. Jordan's conservative banking sector has been largely protected from the worldwide financial crisis, but many businesses, particularly in the tourism and real estate sector, are predicting a slow-down in 2009.

Jordan's economy is among the smallest in the Middle East, with insufficient supplies of water, oil, and other natural resources, underlying the government's heavy reliance on foreign assistance. Other economic challenges for the government include chronic high rates of poverty, unemployment, inflation, and a large budget deficit. Since assuming the throne in 1999, King ABDALLAH has implemented significant economic reforms, such as opening the trade regime, privatizing state-owned companies, and eliminating most some fuel subsidies, which in the past few years have last decade spurred economic growth by attracting foreign investment and creating some jobs. The global economic slowdown, slowdown and regional turmoil, however, has have depressed Jordan's GDP growth. Export-oriented sectors such as manufacturing, mining, growth, impacting export-oriented sectors, construction, and the transport of re-exports have been hit tourism. In 2011 the hardest. The Government government approved two supplementary budgets in 2010, but sweeping tax cuts planned economic relief packages and a budgetary supplement, largely to improve the living conditions for 2010 did not materialize because the middle and poor classes. Jordan's finances have also been strained by a series of Amman's need for additional revenue natural gas pipeline attacks in Egypt, causing Jordan to cover excess spending. The substitute more expensive heavy fuel oils to generate electricity. An influx of foreign aid, especially from Gulf countries, has helped to somewhat offset these extrabudgetary expenditures, but the budget deficit is likely to remain high, at 5-6% more than 11% of GDP, and GDP in 2012 excluding grants. Amman likely will continue to depend heavily on foreign assistance to finance the deficit in 2011. 2012. Jordan's financial sector has been relatively isolated from the international financial crisis because of its limited exposure to overseas capital markets. Jordan is currently exploring nuclear power generation to forestall energy shortfalls.

Jordan's economy is among the smallest in the Middle East, with insufficient supplies of water, oil, and other natural resources, underlying the government's heavy reliance on foreign assistance. Other economic challenges for the government include chronic high rates of poverty, unemployment, inflation, and a large budget deficit. Since assuming the throne in 1999, King ABDALLAH has implemented significant economic reforms, such as opening the trade regime, privatizing state-owned companies, and eliminating some fuel subsidies, which in the last decade spurred economic growth by attracting foreign investment and creating some jobs. The global economic slowdown and regional turmoil, however, have depressed Jordan's Jordan''s GDP growth, impacting export-oriented sectors, construction, and tourism. In 2011 and 2012, the government approved two economic relief packages and a budgetary supplement, largely meant to improve the living conditions for the middle and poor classes. Jordan's Jordan''s finances have also been strained by a series of natural gas pipeline attacks in Egypt, causing Jordan to substitute more expensive heavy fuel oils diesel imports, primarily from Saudi Arabia, to generate electricity. An influx of foreign aid, especially from Gulf countries, has helped to somewhat offset these extrabudgetary expenditures, but the budget deficit Jordan is likely currently exploring nuclear power generation in addition to remain high, at more than 11% the exploitation of GDP in 2012 excluding grants. Amman likely will continue abundant oil shale reserves and renewable technologies to depend heavily on foreign assistance forestall energy shortfalls. In 2012, to finance the deficit in 2012. Jordan's correct budgetary and balance of payments imbalances, Jordan entered into a $2.1 billion, multiple year International Monetary Fund Stand-By Arrangement. Jordan''s financial sector has been relatively isolated from the international financial crisis because of its limited exposure to overseas capital markets. Jordan is currently exploring nuclear power generation will continue to forestall energy shortfalls. depend heavily on foreign assistance to finance the deficit in 2013.

Jordan's economy is among the smallest in the Middle East, with insufficient supplies of water, oil, and other natural resources, resources underlying the government's heavy reliance on foreign assistance. Other economic challenges for the government include chronic high rates of poverty, unemployment, inflation, and a large budget deficit. Since assuming the throne in 1999, King ABDALLAH has implemented significant economic reforms, such as opening the trade regime, privatizing state-owned companies, and eliminating some fuel subsidies, which in the last decade spurred economic growth by attracting foreign investment and creating some jobs. The global economic slowdown and regional turmoil, however, have depressed Jordan''s Jordan's GDP growth, impacting export-oriented sectors, construction, and tourism. In 2011 and 2012, the government approved two economic relief packages and a budgetary supplement, meant to improve the living conditions for the middle and poor classes. Jordan''s Jordan's finances have also been strained by a series of natural gas pipeline attacks in Egypt, causing Jordan to substitute more expensive diesel imports, primarily from Saudi Arabia, to generate electricity. Jordan is currently exploring nuclear power generation in addition to the exploitation of abundant oil shale reserves and renewable technologies to forestall energy shortfalls. In 2012, to correct budgetary and balance of payments imbalances, Jordan entered into a $2.1 billion, multiple year International Monetary Fund Stand-By Arrangement. Jordan''s Jordan's financial sector has been relatively isolated from the international financial crisis because of its limited exposure to overseas capital markets. In 2013, Jordan will continue to depend depended heavily on foreign assistance to finance the deficit in 2013. budget deficit, as the influx of about 600,000 Syrian refugees put additional pressure on expenditures.

Jordan's economy is among the smallest in the Middle East, with insufficient supplies of water, oil, and other natural resources underlying the government's heavy reliance on foreign assistance. Other economic challenges for the government include chronic high rates of poverty, unemployment, inflation, and a large budget deficit. Since assuming the throne in 1999, deficit and resulting government debt. King ABDALLAH has ABDALLAH, during the first decade of the 2000s, implemented significant economic reforms, such as opening the up foreign trade regime, and privatizing state-owned companies, and eliminating some fuel subsidies, which in the last decade spurred economic growth by attracting that attracted foreign investment and creating some jobs. contributed to average annual economic growth of 8% for 2004 through 2008. The global economic slowdown and regional turmoil, turmoil since, however, have depressed Jordan's GDP growth, impacting export-oriented sectors, construction, and tourism. In 2011 and 2012, reduced the government approved two economic relief packages and a budgetary supplement, meant average annual growth rate to improve the living conditions 2.6% for the middle 2010-2013 period and poor classes. hurt export-oriented sectors, construction, and tourism. Jordan's finances have also been strained by a series of natural gas pipeline attacks in Egypt, causing Jordan to substitute more expensive diesel imports, primarily from Saudi Arabia, to generate electricity. To diversify its energy mix, Jordan is currently exploring nuclear power generation in addition to the generation, exploitation of abundant oil shale reserves and renewable technologies to forestall energy shortfalls. technologies, as well as the import of Israeli offshore gas. In August 2012, to correct budgetary and balance of payments imbalances, Jordan entered into a $2.1 billion, multiple three year International Monetary Fund Stand-By Arrangement. Jordan's financial sector has been relatively isolated from the international financial crisis because of its limited exposure to overseas capital markets. In 2013, Jordan depended heavily on foreign assistance 2014, fiscal reform measures enacted in the previous few years continued to finance boost government revenues and reduced the budget deficit, deficit even as the an influx of about 600,000 over 620,000 Syrian refugees since 2011 put additional pressure on expenditures.

Jordan's economy is among the smallest in the Middle East, with insufficient supplies of water, oil, and other natural resources resources, underlying the government's heavy reliance on foreign assistance. Other economic challenges for the government include chronic high rates of poverty, unemployment, inflation, unemployment and a large underemployment, budget deficit and resulting current account deficits, and government debt.
King ABDALLAH, during the first decade of the 2000s, implemented significant economic reforms, such as opening up expanding foreign trade and privatizing state-owned companies, companies that attracted foreign investment and contributed to average annual economic growth of 8% for 2004 through 2008. The global economic slowdown and regional turmoil since, however, reduced the average annual contributed to slower growth rate from 2010 to 2.6% for the 2010-2013 period 2014 - with growth averaging 2.8% per year - and hurt export-oriented sectors, construction, and tourism. Through 2014, Jordan's finances have been were strained by a series of natural gas pipeline attacks in Egypt, causing disrupting natural gas exports to Jordan, and led Jordan to substitute rely on more expensive diesel imports, primarily from Saudi Arabia, to generate electricity.
To diversify its energy mix, Jordan has secured several contracts for liquefied natural gas and is currently exploring nuclear power generation, exploitation of abundant oil shale reserves and renewable technologies, as well as the import of Israeli offshore gas. In August 2012, 2015, Jordan completed a $2.1 billion, three-year IMF Stand-By Arrangement, which the government had entered to help correct budgetary and balance of payments imbalances, imbalances. Jordan entered into a $2.1 billion, three year International Monetary Fund Stand-By Arrangement. In 2014, plans to expand on its fiscal reform measures enacted in over the previous few years continued with a follow-on IMF agreement in 2016 to boost government revenues and reduced revenues, reduce the budget deficit even as deficit, and manage its burgeoning debt, brought on in part by an influx of over 620,000 650,000 Syrian refugees since 2011 2011, which put additional pressure on expenditures.

Jordan's economy is among the smallest in the Middle East, with insufficient supplies of water, oil, and other natural resources, underlying the government's heavy reliance on foreign assistance. Other economic challenges for the government include chronic high rates of poverty, unemployment and underemployment, budget and current account deficits, and government debt.
King ABDALLAH, during the first decade of the 2000s, implemented significant economic reforms, such as expanding foreign trade and privatizing state-owned companies that attracted foreign investment and contributed to average annual economic growth of 8% for 2004 through 2008. The global economic slowdown and regional turmoil contributed to slower growth from 2010 to 2014 2016 - with growth averaging 2.8% per year - and hurt export-oriented sectors, construction, and tourism. Through 2014, Jordan's finances were strained by a series Since the onset of natural gas pipeline attacks the civil war in Egypt, disrupting natural gas exports to Jordan, Syria and led Jordan to rely on resulting refugee crisis, one of Jordan’s most pressing socioeconomic challenges has been managing the influx of 650,000 UN-registered refugees, more expensive diesel imports, primarily from Saudi Arabia, to generate electricity. than 80% of whom live in Jordan’s urban areas. Jordan’s own official census estimated the refugee number at 1.3 million as of early 2016.
Jordan is nearly completely dependent on imported energy—mostly natural gas—and energy consistently makes up 25-30 percent of Jordan’s imports. To diversify its energy mix, Jordan has secured several contracts for liquefied natural gas and is currently exploring nuclear power generation, exploitation of abundant oil shale reserves and renewable technologies, as well as the import of Israeli offshore gas. In August 2015, 2016, Jordan completed and the IMF agreed to a $723 million Extended Fund Facility that aims to build on the three-year, $2.1 billion, three-year billion IMF Stand-By Arrangement, which program that ended in August 2015 with the government had entered to help goal of helping Jordan correct budgetary and balance of payments imbalances. Jordan plans to expand on its fiscal reform measures enacted over the previous few years with a follow-on IMF agreement in 2016 to boost government revenues, reduce the budget deficit, and manage its burgeoning debt, brought on in part by an influx of over 650,000 Syrian refugees since 2011, which put additional pressure on expenditures.

Jordan's economy is among the smallest in the Middle East, with insufficient supplies of water, oil, and other natural resources, underlying the government's heavy reliance on foreign assistance. Other economic challenges for the government include chronic high rates of poverty, unemployment and underemployment, budget and current account deficits, and government debt.
King ABDALLAH, during the first decade of the 2000s, implemented significant economic reforms, such as expanding foreign trade and privatizing state-owned companies that attracted foreign investment and contributed to average annual economic growth of 8% for 2004 through 2008. The global economic slowdown and regional turmoil contributed to slower growth from 2010 to 2016 2017 - with growth averaging 2.8% about 2.5% per year - and hurt export-oriented sectors, construction, construction/real estate, and tourism. Since the onset of the civil war in Syria and resulting refugee crisis, one of Jordan’s most pressing socioeconomic challenges has been managing the influx of 650,000 approximately 660,000 UN-registered refugees, more than 80% of whom live in Jordan’s urban areas. Jordan’s own official census estimated the refugee number at 1.3 million Syrians as of early 2016.
Jordan is nearly completely dependent on imported energy—mostly natural gas—and energy consistently makes up 25-30 percent 25-30% of Jordan’s imports. To diversify its energy mix, Jordan has secured several contracts for liquefied and pipeline natural gas gas, developed several major renewables projects, and is currently exploring nuclear power generation, generation and exploitation of abundant oil shale reserves and renewable technologies, as well as the import of Israeli offshore gas. reserves. In August 2016, Jordan and the IMF agreed to a $723 million Extended Fund Facility that aims to build on the three-year, $2.1 billion IMF program that ended in August 2015 with the goal of helping Jordan correct budgetary and balance of payments imbalances.

Jordan's economy is among the smallest in the Middle East, with insufficient supplies of water, oil, and other natural resources, underlying the government's heavy reliance on foreign assistance. Other economic challenges for the government include chronic high rates of unemployment and underemployment, budget and current account deficits, and government debt.
King ABDALLAH, during the first decade of the 2000s, implemented significant economic reforms, such as expanding foreign trade and privatizing state-owned companies that attracted foreign investment and contributed to average annual economic growth of 8% for 2004 through 2008. The global economic slowdown and regional turmoil contributed to slower growth from 2010 to 2017 - with growth averaging about 2.5% per year - and hurt export-oriented sectors, construction/real estate, and tourism. Since the onset of the civil war in Syria and resulting refugee crisis, one of Jordan’s most pressing socioeconomic challenges has been managing the influx of approximately 660,000 UN-registered refugees, more than 80% of whom live in Jordan’s urban areas. Jordan’s own official census estimated the refugee number at 1.3 million Syrians as of early 2016.
Jordan is nearly completely dependent on imported energy—mostly natural gas—and energy consistently makes up 25-30% of Jordan’s imports. To diversify its energy mix, Jordan has secured several contracts for liquefied and pipeline natural gas, developed several major renewables projects, and is currently exploring nuclear power generation and exploitation of abundant oil shale reserves. In August 2016, Jordan and the IMF agreed to a $723 million Extended Fund Facility that aims to build on the three-year, $2.1 billion IMF program that ended in August 2015 with the goal of helping Jordan correct budgetary and balance of payments imbalances.

low growth, upper middle-income upper-middle-income Middle Eastern economy; high debt and unemployment, especially for youth and women; global events triggering trade slump and decreased revenue from tourism; growing manufacturing and agricultural sectors; key US foreign assistance recipient; natural resource-poor natural-resource-poor and import-reliant