Analysis by Region - MENA
We have raised our estimate of 2021 GDP growth for Jordan to 2.0% up from 1.8% previously due to stronger-than-expected growth continuing into Q3. But our forecast for 2022 has been cut to 1.9% from 2.4% as surging oil prices and higher inflation will weigh on domestic demand. Moreover, pervasive structural issues are keeping unemployment elevated at 22%. That said, a recovery in mining, construction, industrial production, and tourism-related services could pose an upside risk to our growth projections.
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