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Financial Outlook

Jordan’s economic recovery gained momentum in 2013 according to an IMF report published in December 2013. The organization estimated growth of 3% in 2013, up from 2.7% in 2012, while it projected that the 12-month inflation rate would fall below 3% by the year end, from 6.5% at the end of 2012. It added that the current account deficit would narrow substantially. Jordan has been affected by the conflict in Syria and disrupted gas flows from Egypt. The IMF added that fiscal consolidation was proceeding, with international reserves at a comfortable level and expected to exceed their end-2013 target by a large margin. According to the UN, the Syrian crisis had cost Jordan about US$5 billion by the end of 2013, while the Jordanian government said that it had collected less than US$800 million from international bodies to support refugees. Jordan’s debts had risen by 15%, from about US$23.7 billion at the end of 2012 to US$27.2 billion in 2013.

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Further reading on Jordan

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