• Agrofood
  • Business & Economy
  • Construction
  • Energy
  • Healthcare
  • Hospitality
  • IFP Events
  • IFP Insider
    • Event News
    • Interviews
  • العربية
IFP Info - News
  • Agrofood
    • All
    • Agriculture
    • Environment
    • Food

    Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Egypt’s food industries contribute 24.5% of GDP

    Egypt’s food industries contribute 24.5% of GDP

    $36mln contract for construction of Duqm fisheries complex

    $36mln contract for construction of Duqm fisheries complex

    Ministry signs agreement to support Oman’s honey industry

    Ministry signs agreement to support Oman’s honey industry

    Local, Italian companies partner up to establish food retail chain in Egypt

    Local, Italian companies partner up to establish food retail chain in Egypt

    Trending Tags

    • Business & Economy
      • All
      • Business
      • Communication
      • Digital
      • Economy
      • Finance
      • Trade
      • Transport & Logistics

      Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

      Profits at top Saudi banks jump 17.6% in Q1

      Profits at top Saudi banks jump 17.6% in Q1

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      New study reveals that UAE is most competitive economy in the Arab world

      New study reveals that UAE is most competitive economy in the Arab world

      Top 10 listed companies in the Middle East

      Trending Tags

      • CES 2017
      • Election Results
      • eSports
    • Construction
      • All
      • Infrastructure
      • Real Estate
      Oman Construction Equipment Industry to 2028

      Oman Construction Equipment Industry to 2028

      $36mln contract for construction of Duqm fisheries complex

      $36mln contract for construction of Duqm fisheries complex

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      Madayn working on major Oman industrial city projects

      Madayn working on major Oman industrial city projects

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Iraq set to award new Faw Port deals

      Iraq set to award new Faw Port deals

      Trending Tags

      • Energy
        • All
        • Oil & Gas
        • Power & Electricity
        • Renewable Energy
        Suez Canal expects US$3.5 billion in revenues in H1

        Suez Canal expects US$3.5 billion in revenues in H1

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Investments in renewables in Egypt reach LE6 bn: Official

        Investments in renewables in Egypt reach LE6 bn: Official

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        JGC lands $3.7bn Iraq refinery upgradation project deal

        JGC lands $3.7bn Iraq refinery upgradation project deal

        Trending Tags

        • Healthcare
          Coronavirus: UAE conducting human trials for Covid-19 vaccine

          Coronavirus: UAE conducting human trials for Covid-19 vaccine

          COVID-19 vaccine could be available by autumn: Oxford University

          GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

          Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

          Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

          UAE sends medical aid to Iraq to fight COVID-19

          UAE sends medical aid to Iraq to fight COVID-19

          UAE launches phase III trial of inactivated Covid vaccine

          UAE launches phase III trial of inactivated Covid vaccine

          COVID-19 vaccine could be available by autumn: Oxford University

          COVID-19 vaccine could be available by autumn: Oxford University

        • Hospitality

          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

          Qatar’s hospitality sector peaks despite turbulent 2020

          Qatar’s hospitality sector peaks despite turbulent 2020

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Staycations to stimulate Qatar’s hospitality sector

          Staycations to stimulate Qatar’s hospitality sector

        • IFP Events

          Project Oman

          Oman Agrofood

          Food Africa

          Pacprocess MEA

          Oman Agrofood

          Project Qatar

          Project Qatar

          Hospitality Qatar

          Hospitality Qatar

        • IFP Insider
          • Event News
          • Interviews
        • العربية
        No Result
        View All Result
        • Agrofood
          • All
          • Agriculture
          • Environment
          • Food

          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Egypt’s food industries contribute 24.5% of GDP

          Egypt’s food industries contribute 24.5% of GDP

          $36mln contract for construction of Duqm fisheries complex

          $36mln contract for construction of Duqm fisheries complex

          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Communication
            • Digital
            • Economy
            • Finance
            • Trade
            • Transport & Logistics

            Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

            Profits at top Saudi banks jump 17.6% in Q1

            Profits at top Saudi banks jump 17.6% in Q1

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            New study reveals that UAE is most competitive economy in the Arab world

            New study reveals that UAE is most competitive economy in the Arab world

            Top 10 listed companies in the Middle East

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman Construction Equipment Industry to 2028

            Oman Construction Equipment Industry to 2028

            $36mln contract for construction of Duqm fisheries complex

            $36mln contract for construction of Duqm fisheries complex

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            Madayn working on major Oman industrial city projects

            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              Suez Canal expects US$3.5 billion in revenues in H1

              Suez Canal expects US$3.5 billion in revenues in H1

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Trending Tags

              • Healthcare
                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                UAE sends medical aid to Iraq to fight COVID-19

                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                UAE launches phase III trial of inactivated Covid vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                COVID-19 vaccine could be available by autumn: Oxford University

              • Hospitality

                Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

              • IFP Events

                Project Oman

                Oman Agrofood

                Food Africa

                Pacprocess MEA

                Oman Agrofood

                Project Qatar

                Project Qatar

                Hospitality Qatar

                Hospitality Qatar

              • IFP Insider
                • Event News
                • Interviews
              • العربية
              No Result
              View All Result
              IFP Info - News
              No Result
              View All Result

              Steady reform and targeted growth bolster confidence in Jordan’s economy

              Oxford Business Group

              December 28, 2015
              in Economy
              0

              Steady reform and targeted growth bolstered investor confidence in Jordan’s economy in 2015, as weaker oil prices helped to support a stronger balance of trade and maintain low levels of inflation.

              While regional instability continues to weigh on the kingdom, impacting year-end growth forecasts, the outlook for 2016 remains cautiously optimistic thanks to recent successes in international debt markets and impending negotiations to secure more IMF financing in the coming year.

              Fuel savings
              According to recent figures released by the Department of Statistics (DoS), while overall trade volumes fell during the first three quarters of 2015, Jordan’s balance of trade improved.

              The national trade deficit was down 16.5% year-on-year (y-o-y) as of September. Exports fell to JD4.1bn ($5.8bn) over the period, marking a 7.2% y-o-y decline, while imports dropped by 13.1% to JD10.6bn ($14.9bn).

              The Central Bank of Jordan (CBJ) also reported a decrease in inflation across the kingdom, with the consumer price index (CPI) falling by 0.7% in the first 10 months of the year. The largest price decreases were recorded in transport (14.4%) and fuel and lighting (12.9%) as a result of lower energy prices. However, inflation could pick up again in 2016, according to estimates from the IMF, which projects the CPI will rise by 3.1%.

              Given the country’s reliance on imported feedstock for virtually all of its power generation and fuel needs, the decline in global energy prices has yielded some benefits, and in particular for Jordanian industry.

              According to the CBJ, the industrial producers’ price index – a figure that measures changes in the selling price of domestic industrial output – declined by 9.6% y-o-y in the first three quarters of 2015, with a slump in refined oil products accounting for 10.7% of the decrease, as per DoS figures.

              Regional impact
              While earlier GDP growth forecasts from the IMF stood at 3.8% earlier this year, the fund now expects the economy to expand by 2.9% in 2015 and 3.7% in 2016, citing Jordan’s exposure to regional shocks and instability in neighboring countries as the primary causes of slower-than-expected growth.

              At a press conference in late October, Prime Minister Abdullah Ensour underscored the challenges imposed by the latest round of conflict in the Middle East.
               
              “We don’t want to blame all our economic problems on the wars around us, which are hundreds of kilometers away from the heart of the country,” Ensour said, “but we cannot ignore their consequences on the economy.”

              In addition to placing greater pressure on public spending, instability in the region has also impacted the kingdom’s trade routes. According to Ensour, Jordan’s land cargo fleet – one of the largest in the region – is unable to access the country’s top trading partners: Syria, Iraq and Turkey.

              Despite ongoing challenges for trade, the prime minister was optimistic, pointing to signals of confidence from various institutional investors. Indeed, scheduled negotiations with international financial institutions and the successful sale of US dollar-denominated sovereign debt on international markets are expected to benefit Jordan’s fiscal standing in 2015 and 2016. 

              Securing international financing
              In November the kingdom sold a 10-year, $500m bond to international investors at a 6.375% yield. This came on the heels of another sovereign debt issue in June, which saw the sale of a $1.5bn Eurobond, backed by the US Treasury, to fund services for the more than 600,000 Syrian refugees in the country.

              The kingdom is also gearing up for renewed negotiations with the IMF in February 2016 after a three-year stand-by arrangement (SBA) with the fund expired in August.

              “Regarding policies in 2016 and beyond, we had constructive discussions on how to find the right balance between tackling Jordan’s economic challenge of raising growth and employment with the need to reduce its high public debt and current account deficit,” Kristina Kostial, the IMF mission chief to Jordan, said in a press release after her visit to the country in November.

              The amount under discussion for the next round of financing, to be structured as an extended fund facility, has yet to be disclosed – though Kostial indicated it was likely to be less than the amount received under the SBA, which extended around $2bn in low-cost loans to the country in the wake of the global financial crisis.

              The new IMF package, expected to focus on job creation and attracting investment, could help shore up the kingdom’s fiscal deficit, which is projected to reach 3% of GDP in 2016.
              Oxford Business Group
              28 December
               

              Previous Post

              Dubai steps up $81.7 billion ICT drive

              Next Post

              Saudi Arabia embarked on a program of reforms

              Next Post

              Saudi Arabia embarked on a program of reforms

              News Letter

              Subscribe to our mailing list to receives daily updates direct to your inbox!

              *we hate spam as much as you do

              Recent News

              Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

              January 30, 2023
              Drupa 2024 is well on track

              Drupa 2024 is well on track

              July 19, 2022
              The halls are packed: This is interpack 2023

              The halls are packed: This is interpack 2023

              July 19, 2022
              IFP Info – News

              The latest Middle East Business News & Events brought to you on a daily basis from multiple credible news portals around the world

              Follow Us

              Categories

              • Agrofood
              • Business & Economy
              • Construction
              • Covid-19 Updates
              • Energy
              • Event News
              • Healthcare
              • Hospitality
              • Interviews

              Countries

              • Bahrain
              • Egypt
              • Iran
              • Iraq
              • Jordan
              • Kingdom of Saudi Arabia
              • Kuwait
              • Lebanon
              • Oman
              • Other Africa
              • Other GCC
              • Other Middle East
              • Qatar
              • Syria
              • United Arab Emirates
              • Worldwide

              Newsletter

              Subscribe to our mailing list to receives daily updates direct to your inbox!

              *we hate spam as much as you do

              • About
              • Advertise
              • Privacy & Policy
              • Contact

              © 2018 IFP Group - All Rights Reserved / www.ifpexpo.com

              No Result
              View All Result
              • Agrofood
              • Business & Economy
              • Construction
              • Energy
              • Healthcare
              • Hospitality
              • IFP Events
              • IFP Insider
                • Event News
                • Interviews
              • العربية

              © 2018 IFP Group - All Rights Reserved / www.ifpexpo.com