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FINANCIAL NEWS
Jordan’s CB receives USD250m from UAE: Ambassador
03 Jan 2013
(MENAFN) UAE ambassador to Jordan unveiled that the Gulf state has deposited USD250 million in the Kingdom’s central bank on November 25, official news agency Petra reported.
According to Abdullah Al Amri, the amount is separate from the USD1.25 billion the UAE pledged as part of the USD5 billion that GCC states agreed to grant Jordan over a five-year period.
The Kingdom’s debt-to-GDP ratio has increased to about 72 percent of GDP in the first nine months of 2012, up from 64 percent the year before, according to official figures from the ministry of finance.
The International Monetary Fund said that the Kingdom has faced challenges during the year from the disruption of the flow of natural gas, the ongoing conflict in Syria, and an acceleration of influx of refugees, in addition to higher oil and food prices and a shortfall in grants.
The IMF, however, expected the struggling economy to grow by 3.5 percent in 2013 from an estimated 3 percent in 2012, while inflation is projected to fall to 3.9 percent from 4.5 percent last year.
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