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FINANCIAL NEWS
Jordanian economy expands 2.9% in Q2
27 Sep 2010
(MENAFN) A statement issued by the Jordanian government showed that the kingdom’s economy grew by 2.9 percent in the second quarter from a year earlier, when it grew by 2.03 percent, Reuters reported.
The economy expanded 2.8 percent in 2009 as a whole, slowing from 7.8 percent growth in 2008 and was its worst performance since an economic crisis in 1989 when the country was forced to seek help from the International Monetary Fund.
Official figures showed growth in the second quarter was fuelled by transport, storage, communications and financial sectors.
Construction, a key driver of the economy, fell 12 percent in the second quarter from the first as the kingdom�s property market continues to reel from oversupply combined with a liquidity crunch that has left developers struggling as risk averse banks curb credit lines.
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