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FINANCIAL NEWS
IMF: Jordan budget deficit at record high
05 Apr 2010
(MENAFN) The Managing Director and Chairman of the Executive Board of the International Monetary Fund (IMF) Dominique Strauss-Kahn said that the current budget deficit of Jordan is the biggest in the history of the fragile economy, Petra reported.
Speaking to reporters after his meeting with Jordanian Prime Minister Samir Rifai, Strauss-Kahn attributed the deficit to the current global financial crisis, saying that no economy in the world is immune to the impacts of the crisis.
Jordan’s unprecedented budget deficit coupled with the growth of ratio of the public debt to the gross domestic product (GDP) are among the manifestations of a crisis the impacts of which are being experienced by all economies of the world but in variant degrees, he added.
Jordan’s projected four percent economic growth rate for 2010 shows the slow pace of the economy’s recovery from the global financial crisis, he added.
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