Amman, June 12 (Petra) – 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