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FINANCIAL NEWS
Jordan economy hit by refugee flow
30 Oct 2013
(MENAFN) The presence of hundreds of thousands of Syrian refugees in Jordan is limiting the country”s ability to maintain a growth over the 3 to 3.5 percent IMF annual growth target for the next two years, The Peninsula Qatar reported.
The Jordanian central bank governor said: “Syrian refugees are bound to affect growth by I would say at least two percent. We would have had five percent. Despite this, I think the economy will continue to grow by about three percent more or less, three to 3.5 percent.”
The refugee issue in Jordan coupled with less foreign aid and increasing welfare payments and high energy import bill forced the country into a financial crisis which led to it taking a USD2 billion loan from the IMF.
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