Amman, April 18 (Petra) – Moody's Ratings' reaffirmation of Jordan's sovereign credit rating at Ba3 with a stable outlook reflects the resilience of the national economy and its ability to cope with regional challenges and instability, the Jordan Chamber of Commerce (JCC) said.

In its report, Moody's Ratings, a leading global provider of credit ratings, research, and risk analysis, said the reaffirmation signals Jordan's effective structural reforms, stable fiscal management, public debt sustainability, and continued international support, reinforcing investor confidence in the Kingdom’s macroeconomic stability.

It also cited financial and technical support the Kingdom receives from donor countries and international institutions, such as the International Monetary Fund, the European Union, and the United States.

The reaffirmation is a clear indication of international institutions' confidence in the government's economic and financial policies, particularly regarding financial stability, ensuring the sustainability of public debt, and enhancing the investment environment, said Firas Sultan, representative of the financial and banking sector at JCC.

The continued implementation of structural reforms, he said, contributes to strengthening the resilience of the national economy and increasing its competitiveness.

The commendation of Jordan's economic and financial institutions reflects the efficiency of economic management, as well as the importance of support Jordan receives from its international partners, such as the International Monetary Fund, the European Union, and the United States, which is a boost to economic stability and the implementation of reform programs, said Sultan.

He said the positive growth projections for the coming years reflect real opportunities to boost economic activity, especially given the government's focus on accelerating investment projects and attracting more foreign capital, which will positively impact various sectors.

Sultan also pointed out that a stable monetary policy and the continued pegging of the dinar to the US dollar contributes to strengthening confidence in the national economy and reducing the risks associated with exchange rate fluctuations, in addition to the key role of foreign reserves that support monetary stability.

He also noted a gradual decline in the public debt-to-GDP ratio over the coming years as a positive indicator of the success of fiscal policies, urging continued efforts to control deficit, enhance revenues, and stimulate growth.

Maintaining the credit rating sends a reassuring message to local and foreign investors and reinforces Jordan's position as a stable investment environment capable of achieving sustainable growth despite surrounding challenges, said Sultan.

Moody's Rating's report followed the IMF's announcement on Wednesday it reached a staff-level agreement with Jordan for the fifth review of the Extended Fund Facility program and the second review of the Resilience and Sustainability Facility program.

//Petra//SS