Jordan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) has remained at BB-, with a stable outlook, said Fitch Ratings on Saturday, following Fitch’s delegation’s visit to Jordan.
Fitch highlighted Jordan’s accomplishments in preserving macroeconomic stability, progress with fiscal and economic reforms, and resiliency in its financing due to the banking sector’s liquidity, the public pension fund, and international aid.
Jordan has maintained its rating by efficiently managing the general government deficit, which Fitch forecast at 3.7 percent in its latest report. The Kingdom also managed to exceed expectations, with a Gross Domestic Product (GDP) increasing by 2.5 percent in 2022.
“Jordan’s economy was cushioned from the impact of the war in Ukraine due to its strategic fiscal planning. Jordan’s stable IMF programme is also cited as a key indicator in the Kingdom maintaining its rating.” Fitch mentioned.
During their visit, the Fitch delegation met with the Jordanian Minister of Finance, Mohamad Al-Ississ, and the Governor of the Central Bank of Jordan (CBJ), Adel Sharkas.
