Amman, March 1 (Petra) – Standard & Poor’s confirmed Jordan’s long-term sovereign credit rating at BB- with a stable outlook, sending a message of reassurance to markets and investors regarding the Kingdom’s economic stability, economists said.
Experts told the Jordan News Agency (Petra) that the confirmation reflects international confidence in Jordan’s macroeconomic policies, which combine fiscal discipline, reserve support, and growth promotion amid a challenging regional environment. The rating was maintained despite regional uncertainties, highlighting the effectiveness of the Kingdom’s financial and monetary management.
Economist Adly Qandah said the rating demonstrates continued trust in Jordan’s capacity to meet its financial obligations, while the stable outlook reflects a balance between strengths, including monetary stability and foreign currency reserves, and pressures such as public debt levels and servicing costs. He emphasized that the next phase requires accelerating structural reforms, stimulating economic growth, and strengthening public financial control to potentially improve the rating in the future.
Economic and financial expert Majd Shafiq noted that the rating report was issued by a neutral international agency and signals prudent government fiscal management and Central Bank monetary policy, evident in record foreign reserves. Shafiq highlighted the initial decline in the debt-to-GDP ratio and projected economic growth of around 3 to 3.2 percent for the year, compared with 2.8 percent last year. He also said the upcoming Jordan-European Union Investment Conference in April is expected to bolster growth, exports, and employment.
Omar Gharaibeh, Professor of Finance at Al al-Bayt University, said the rating stability reflects the flexibility of Jordan’s economy and the strength of macro-financial indicators, including low inflation rates, the lowest in the region, and sustained economic growth across sectors such as agriculture, manufacturing, tourism, mining, electricity, and water. He noted that sufficient foreign reserves and increased exports help reduce the trade deficit, supported by trade openness with Iraq and Syria.
The economists collectively affirmed that the S&P decision underscores Jordan’s financial resilience and reassures investors regarding the Kingdom’s economic trajectory.
//Petra// AJ
