The financial results of the companies listed on the Amman Stock Exchange showed a
great leap at the end of the first half of 2022. The results reflect the
extraordinary financial performance of companies whose total profits amount to
JD1.27 billion, a 139.3 percent increase over the JD532.8 million in the first
half of 2021.
اضافة اعلان
The new profit
benchmark highlights Jordan’s economy’s excellence at regional and global
levels, as well as the Kingdom’s efforts to achieve sustainable economic growth
and improve its economic and financial stability.
The increase in
demand and relaxation of COVID restrictions gave a boost to the services
sector, which has recorded the highest rise in profits after tax, attributable
to corporate shareholders, 394.6 percent, followed by the industrial sector,
with a surge of 284.9 percent, and the financial sector, with 35.8 percent.
The strong
liquidity and growing profits are in line with macroeconomic indicators. The economic
growth has led to a buoyant mood in Jordan, especially in the mining and
banking sectors.
Severe global macro
headwinds, emerging markets, specific burdens that have been a challenging
backdrop, inflationary pressures, supply chain issues, and the Russia-Ukraine
crisis continue to pose business challenges.
Jordan’s GDP grew
by 2.5 percent and the value of national exports during the first third of 2022
by 52.2 percent, compared to the same period in 2021. The Kingdom’s total
exports during the first five months of 2022 were worth JD3.36 billion, a 41.2
percent increase over the same period in 2021.
The economic and financial indicators have a significant impact on promoting economic growth, as a result of growing shareholder ability to increase spending and investments in the national economy…
It is remarkable
that halfway through the year, Jordan, an emerging market, has outperformed
developed markets. The robust results have boosted investor confidence and
unleashed significant opportunities in the market.
The total volume of
new ventures increased by 69 percent during the first half of 2022, to reach
JD405.3 million, compared with JD239.7 million during the same period last
year. The industrial sector accounted for the lion’s share (60 percent) of the
investments, followed by the tourism and agriculture sectors.
The economic and
financial indicators have a significant impact on promoting economic growth, as
a result of growing shareholder ability to increase spending and investments in
the national economy, which, in turn, reduces unemployment rates.
Private finance
plays a crucial role in helping to develop a broader and more sustainable
finance ecosystem and in mitigating the impact of economic and financial
challenges.
To thrive in this
new world, countries must reward the creativity and ingenuity required to
devise new growth options. They must invest in their portfolio engines by
introducing more downstream projects and injecting the dividends into building
new skills and capabilities needed to capitalize on their most profitable
businesses.
Hamzeh S. Al-Alayani is a
board member of a Jordanian public-sector government investments management
company and a regular commentator on regional energy and industrial matters.
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