This 2009 Article IV Consultation highlights that Jordan’s money and financial markets have weakened since mid-2008. Bank deposits edged down slightly in October but subsequently recovered, with the share of dinar deposits continuing to increase. Executive Directors have noted that sound macroeconomic management has enhanced Jordan’s resilience to the global crisis. Directors have also emphasized that, in light of the economy’s close ties with the region and reliance on external financing, near-term policies should remain focused on guarding against vulnerabilities.
This paper focuses on the Fifth Post-Program Monitoring Discussions with Jordan. Jordan’s economic performance remains strong. Growth is robust, core inflation is contained, the current account deficit is narrowing, reserves are comfortable, and the fiscal situation continues to improve. The Fifth Post-Program Monitoring Discussions focused on a large current account deficit, still high public debt, and rapid credit growth. The authorities consider the outlook for the Jordanian economy as strong, including on growth, inflation, and the current account.
The staff report for the 2004 Article IV Consultation on Jordan highlights economic developments and policies. General sales tax collections increased strongly boosted by high import growth and improved revenue administration. The government has embarked on a substantial improvement of the education system, with support from an education sector reform loan from the World Bank. The integration of the sales and income tax departments into a unified revenue department will also contribute by strengthening tax collections and enforcement.
Mr. Jose Martelino, Mr. S. Nuri Erbas, Mr. Adnan Mazarei, Ms. Sena Eken, and Mr. Paul Cashin
This paper provides background information on the Lebanese economy, based on an analysis of the economic consequences of war, and discusses several issues that will be central to Lebanon's prospects for recovery