Standard & Poor’s affirms Jordan’s credit rating at BB-
In both local and foreign currency, sovereign credit rating agency Standard & Poor's affirmed that Jordan's long-term sovereign credit rating at BB- with a stable outlook has been confirmed, Petra reports.
According to the agency's analysis, the rating was upheld due to Jordan's resilience in the face of recent regional security instability, macroeconomic stability, advancements in economic and financial reforms, and robust international backing.
According to the agency, regional changes, a rebound in the travel and tourism industry, and a slow uptick in trade with Syria and Iraq will all contribute to Jordan's economy's 2.6% growth in 2025. In 2026 and 2027, growth is anticipated to be 3% and 3.1%, respectively. In terms of public finance metrics, the agency projects that the consolidated budget deficit will drop from 2.8% of GDP in 2024 to 2.4% of GDP in 2025.
In the upcoming years, the agency also anticipates a modest drop in the debt-to-GDP ratio. The agency pointed out that linking the Jordanian dinar to the US dollar has helped to control inflation rates and maintain price stability in terms of monetary indicators. According to the agency, inflation rates will hit 2.0% in 2025 and stay within reasonable bounds.
As reported earlier, the Kazakhstan-Jordan business forum took place in Astana with the participation of President Kassym-Jomart Tokayev of Kazakhstan and King Abdullah II of Jordan.
