Macroeconomic Forecast Jordan

Real GDP growth dropped to 2.1% y-o-y in Q309, down from 2.8% in Q209. This was in line with our view that as the government began to withdraw its fiscal policy in H209, growth would be impacted, and supports our full year growth estimate of 2.7%. We stand by our view that the economy is now in recovery mode: we forecast real GDP growth of 3.2% and 3.8% in 2010 and 2011 respectively.

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