jordan pulse -

Jordan's economic growth is projected to reach 3 percent by 2028, signaling a steady upward trajectory despite global economic challenges and regional geopolitical tensions, according to the World Bank's latest Global Economic Prospects report released Thursday evening.

The report, obtained by the Jordan News Agency (Petra), forecasts Jordan’s economic growth rate to reach 2.7 percent during the current year, before rising to 2.9 percent in 2027.

While economies across the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) grapple with the fallout of geopolitical instability and rising energy and shipping costs, the World Bank notes that Jordan's fertilizer exports are positioned to mitigate anticipated economic pressures this year. High global fertilizer prices are expected to provide a partial offset for the Kingdom by boosting export revenues, at a time when energy-importing nations face elevated import costs and slower regional economic activity.

On a regional level, the World Bank projects MENAP growth to slow significantly to 1.6 percent in 2026, down from approximately 4 percent in 2025, driven by the economic ripple effects of regional conflicts and heightened uncertainty.

According to the report, energy-importing economies will be the most vulnerable to rising oil and gas prices, elevated freight costs, and strained tourism, remittance, and investment sectors. Conversely, the impact on energy exporters will vary based on their capacity to maintain production levels, sustain exports, and absorb fiscal pressures.

The World Bank anticipates a gradual regional recovery during 2027 and 2028 as disruptions subside, inflationary pressures ease, and trade and tourism rebound, potentially driving regional growth to an average of 4.5 percent during that period.

Globally, the forecasts reflect sustained uncertainty dominating the international economy, with global trade, inflation, and commodity prices heavily impacted by geopolitical shifts. In this context, Jordan's capacity to capitalize on strong fertilizer prices and expand its export volume stands out as a key factor supporting domestic economic stability and dampening external shocks.

//Petra// AA