The Jordanian economy has been heavily affected by prolonged regional instability, particularly the conflict in Syria and the conflict in Israel-Gaza, along with security disruptions in the Red Sea area. That instability has added further uncertainty, undermining investor confidence, disrupting trade routes, and weakening tourism. Those challenges have come on top of the lingering economic and social impacts of the COVID-19 pandemic, global price shocks following Russia’s invasion of Ukraine, and higher borrowing costs linked to tighter global financial conditions. More recently, the increased uncertainty of the global economic and trade environment also represents an additional challenge for Jordan. While Jordan has avoided a renewed economic contraction, in part thanks to the pursuit of sound macroeconomic policies and reforms, its recovery remains sluggish. Unemployment remains persistently high, particularly among youth and women, and fiscal and external financing pressures continue to weigh on the Jordanian economy.
Text as published in the Official Journal, reproduced verbatim (including any typographical quirks of the source). For the authentic version, see EUR-Lex.
