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FINANCIAL NEWS
Jordan’s Q3 economy grows 2.6%
27 Dec 2011
(MENAFN) Jordan’s finance ministry said that the country’s economy grew 2.6 percent in the third quarter from 2010’s same period, reported Arab News.
The ministry added that in 2011, Jordan’s economy would be forecasted to grow only 2.3 percent, compared with previous expectations of at least 3 percent, and with the International Monetary Fund’s (IMF) forecasts of 2.5 percent.
It also said that third quarter growth occurred since the mining, transport and financial services sectors rebounded, on the other hand, it said that gross domestic product (GDP) expanded 2.4 percent year-on-year in the second quarter.
It is worth noting that in the last two years, Jordan’s economy has been at its weakest levels since 1989’s economic crisis, when the country had to ask for financial aid from the IMF.
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