AMMAN— Moody's raised its outlook for Jordan from stable to positive, with the credit rating fixed at B1, according to Al-Mamlaka TV.
In its expanded report, ", "Moody's" expected the growth of real
GDP, which is still strong in Jordan, by about 3-3.5 percent in 2023 and 2024; So that it does not include the potential benefits of repairs.
The agency indicated that the rationale for changing the outlook from stable to positive is due to the effective implementation of economic and administrative reforms recently introduced by the government, which enhances the ability to enhance Jordan's credit image over time.
In addition to fiscal reforms, Moody's expects that the broader structural reform agenda that mainly includes the "Economic Modernization Vision" and the public sector modernization roadmap will be stronger with a higher probability of achieving tangible results in the medium term compared to previous attempts.
In particular, the Economic Modernization Vision includes a wide range of the private sector, civil society, and academics; which helped formulate meeting regularly to implement reforms.
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