Macro - Country Economic Forecasts - Jordan
We have slightly downgraded our forecast for GDP growth from 2.5% to 2.3% for 2023. The country has made solid progress in implementing the structural reforms suggested by the IMF. Activity has increased via higher tourism and exports revenues carried over from 2022, and this momentum is likely to be maintained in 2023. However, despite Jordan's cushioning against inflation, particularly with food stocks, we expect the rise in prices will inevitably catch up to growth efforts in 2023.
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