Jordan Sees economy down 3% in 2020 Due to Coronavirus
Monday, 05 04 2020, Category: Economy, Country: Jordan
Jordan's cash-strapped economy is expected to contract around 3% in 2020 due to the impact of the coronavirus as government revenue plunges due to a tight lockdown that paralysed businesses, the finance minister said on Sunday.
The International Monetary Fund (IMF), which last March approved a four-year $1.3 billion programme with the kingdom, had expected Jordan’s economy to grow around 2.1% in 2020 then gradually rise in the next few years to 3.3%.
"The impact of the big economic blow that hit the local economy has been deep and this will continue," Mohammad Al Ississ said in a remarks on state television in the first contraction in growth since 1990.
The government has in recent days stepped up moves to return to normality, allowing most businesses to go back to work after a tight nearly two-month lockdown, as the economic impact deepened with mounting fears that layoffs and bankruptcies could trigger social unrest, officials say in private.