Lewes, DE -- (SBWIRE) -- 03/29/2019 -- Jordan's decision to increase food prices in February 2019 had not gone well with and they are demanding the government's resignation and the dissolution of parliament. The government implemented a tax rise of between 50-100 percent on key food staples such as bread, in order to decrease its USD 700 million budget deficit.

Jordan is strategically positioned at the crossroads of the Middle East-North Africa (MENA) region, centrally located between Europe, Asia, and Africa. The Hashemite Kingdom of Jordan is only one of two Arab countries to have signed a peace agreement with Israel, and in 2001, it became the first Arab country to sign a Free Trade Agreement with the United States. The official language of Jordan is Arabic, and the currency is the Jordanian dinar (JOD).

Jordan had estimated population of 6.976 million in the year 2016 and expected to reach 7.96 million by 2022. Jordan's unemployment rate in 2015 was 13.075% of total labor force.

Jordan's real gross domestic product (GDP) was expected to be around JOD 11.653 billions in 2016 whereas the nominal GDP was expected to be JOD 27.469 billions. This resulted in GDP deflator 235.724. Per capita GDP was estimated at USD 5553.97 whereas purchasing power parity (PPP) based per capita GDP was estimated to be at USD 12278.21.

In 2016, Jordan government's revenue was estimated to be JOD 7.013 billions whereas the expenditure was estimated to be JOD 7.949 billions. This resulted Jordan government's net lending / borrowing negative at JOD 0.936 billion in 2016 indicating that enough financial resources were not made available by the government to boost economic growth.

The current account balance for Jordan was negative and estimated to be at USD 3.65 billions for the year 2016 and is expected to decline at a CAGR of 0.94% and reach USD 3.199 by 2022. This negative current account balance indicates the Jordan is a net borrower from the whole world.

Scope of Jordan PESTLE Analysis & Macroeconomic Trends
This report provides information about key macroeconomic indicators for Jordan.
This report provides PESTLE (political, economic, social, technological, legal and environmental) analysis for Jordan.

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