The Borgen Project: Improving Credit Access in Jordan and SMEs
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Despite facing a set of extraordinary external and internal challenges over the past several years, the Jordanian economy remained resilient in 2015, with real GDP growth reaching 2.4% that year. The government is working with the IMF to implement fiscal reform policies, supported by low global oil prices, to reduce the kingdom’s fuel import bill, which should have seen GDP growth and major macroeconomic…
All eyes were understandably on Vienna at the end of June, and the gathering of oil ministers from the Organisation of the Petroleum Exporting Countries (OPEC). Their decision to increase output was endorsed by the non-OPEC producers who signed up to the original cuts 18 months ago. Oil prices are a thorny issue for the Gulf economies as their diversification strategies accelerate. On…
Significant progress in implementing an IMF-backed reform agenda in 2016 marked a turning point for the economy, helping Jordan reduce its budget deficit and bring GDP growth in constant prices from a 25-year low of 2% in 2016 to 2.2% the following year. While the latter figure was still below target, the Jordan Economic Growth Plan 2018-22 aims to put the country back on track towards meeting its…
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Although priorities vary when it comes to economic development, the increasing need for skilled labour is both a cause of and a requirement for accelerated growth that spans markets and continents. This demand for technical specialists from Mexico to Indonesia is often most concentrated in the sectors that are vital to economic advancement, including infrastructure, oil and gas exploration…
Jordan has been a bastion of stability in an otherwise volatile region. It largely escaped the Arab Spring and, despite economic difficulties, has enacted reforms to meet IMF assistance requirements. However, recent years have put increasing strain on the country’s finances, with a decline in its donations from Gulf Arab allies on the back of lower oil prices, as well as a huge influx of Syrian…
OBG Business Barometer: Jordan CEO Survey Copyright (c). All rights reserved. This survey has been designed to assess business sentiment amongst business leaders (Chief Executives or equivalent) and their outlook for the next 12 months. Unlike many surveys, the OBG Business Barometer is conducted by OBG staff on a face-to-face basis, across the full range of industries, company sizes and functional…