Amman, Oct. 15 (Petra) – Economists said Jordan’s economy has been showing signs of recovery and growing confidence among consumers and investors since the start of the year, reflecting positively on the growth cycle in the coming period.

They told the Jordan News Agency (Petra) that the upward trend of the national economy has been driven by government efforts to implement the Economic Modernization Vision, which has helped simplify procedures, stimulate investment, and strengthen public-private partnerships.

They noted that the economy’s performance since the beginning of the year has boosted consumer confidence and reinforced the belief that Jordan’s economy is moving in the right direction and capable of further improvement, with foreign reserves at the Central Bank reaching $23.895 billion.

The Ipsos Consumer Confidence Index showed a 1.3% year-on-year increase in Jordanians’ confidence in the national economy during the third quarter of this year, reaching 40.7%.

The Ipsos Consumer Confidence Index is a quarterly national survey that tracks consumers’ views of the current and future local economic situation, their personal financial conditions, and their saving and investment tendencies.

Since the start of the year, economic indicators have risen, supported by the economy’s resilience and its ability to overcome challenges. Tourism revenues grew 6.8% in the first nine months of this year, reaching $6 billion.

Expatriate remittances increased 3.1% from the start of the year through August, reaching $3 billion, compared with the same period in 2024.

Exports covered 51% of imports in the first seven months of this year, compared with 50% a year earlier the highest level recorded while total exports reached JD 5.798 billion.

Industrial exports grew 6.6% from January through July, confirming the industrial sector’s adaptability and resilience.

Driven by strong buying momentum, the Amman Stock Exchange continued to climb this week, supported by optimism over listed companies’ earnings. The market capitalization of listed shares rose to around JD 24 billion, the highest since 2009.

Trading sessions have recently seen active movement in blue-chip stocks, particularly in banking, financial services, and real estate sectors, with healthy liquidity flows reflecting growing confidence in the market’s performance.

Mousa Saket, Board Member of the Amman Chamber of Industry, said the economy’s upward trajectory since early this year shows a clear recovery trend and rising public confidence in the country’s financial future and macroeconomic performance.

He added that the continuous rise in confidence indicators whe whethere economy, job security, investment climate, or personal finances ind indicatesse of optimism supported by stable economic indicators and improved production and consumption activity.

Despite unemployment remaining a top priority, he said most Jordanians believe the economy is heading in the right direction and that the outlook is brighter than in previous years.

Saket stressed that the economy’s gradual recovery and growing consumer and investor confidence will positively affect future growth, provided that economic and fiscal reforms continue, the investment climate remains attractive, and job creation aligns with the Economic Modernization Vision.

Mohammad Smadi, Board Member of the European Chamber of Commerce in Amman, said the rise in consumer confidence during the third quarter signals a recovery in the economic mood and renewed trust in the investment environment.

He said consumer confidence reaching 40.7% and improvements across all sub-indices including a 5.8% increase in confidence in the economy’s direction, along with better job security, investment climate, and financial capacity reflect a gradual strengthening of trust in the economy, forming a solid base for growth and investment activity.

Smadi noted that these results coincide with government efforts under the Economic Modernization Vision to simplify procedures, stimulate investment, and enhance public-private cooperation. Continued long-term planning, he said, would translate into tangible improvements in citizens’ livelihoods and job creation.
He added that higher confidence typically drives spending and consumption, boosting the economic cycle and encouraging private-sector expansion.

He stressed that sustaining economic improvement requires maintaining financial and monetary stability and expanding the production and export base to ensure inclusive and sustainable growth, strengthening Jordan’s position as a regional hub for business and investment.

Economic expert Munir Dayyah said consumer confidence improved due to strong performance in key economic indicators including GDP growth of 2.8% in the second quarter, a 36% rise in foreign direct investment, higher exports, tourism income, and foreign reserves all pointing to resilience and recovery despite regional uncertainty and global economic headwinds.

He said the economy’s progress has reinforced consumer confidence that Jordan is on the right track and poised for further improvement.

Dayyah added that the economy is moving rapidly toward achieving more positive indicators in tandem with the return of regional stability, further supporting key sectors such as tourism, services, and air transport.

Maher Mahrouq, Director General of the Association of Banks in Jordan, said the economy’s performance in 2025 has been clearly positive, with growth exceeding expectations, particularly in the second quarter.

He noted that leading growth sectors particularly agriculture, which grew between 3.4% and 4% deserve special attention. Agricultural modernization and adoption of smart farming technologies have enhanced productivity and economic output.

He added that banking facilities for agriculture rose 200% in the past three years, from about JD 200 million to over JD 600 million, reflecting growing confidence in the sector’s contribution to economic growth.

Mahrouq said exports have improved and inflation has remained at acceptable levels, strengthening the economy’s fundamentals despite challenging regional conditions.

He added that recent government decisions have had a positive and tangible impact in supporting growth and reinforcing confidence.

He concluded that Jordan’s economy is moving steadily on a positive and promising path, despite the surrounding challenges.

Ibrahim Alkordi, a member of the University of Jordan’s School of Tourism and Hospitality Aqaba branch, said the rise in consumer confidence and personal financial capacity will bolster domestic tourism activity, noting that stronger confidence leads to higher consumer spending, including on local tourism.
He said this improvement will likely stimulate demand for tourism services and increase visits to domestic destinations such as the Dead Sea, Aqaba, Wadi Rum, and Petra, helping local economies across governorates.

Alkordi added that continued optimism will enhance spending on leisure and tourism and encourage investment in small and medium-sized tourism projects, reinforcing the sector’s role as a key growth driver.

Former Dean of the School of Business at the University of Jordan Raed Bani Yassin said the Ipsos report reflects a meaningful improvement in consumer confidence, an important indicator of public sentiment and economic behavior.

He urged policymakers to capitalize on these indicators to design more effective growth-oriented policies, especially those addressing unemployment and improving the business environment.

He added that it is important to translate these positive indicators into tangible actions that citizens can feel in their daily lives such as easing living costs, creating jobs, and improving services.

Mohammad Farajat, Professor of Geology at Al-Hussein Bin Talal University and member of the Royal Committee to Modernize the Political System, said the Ipsos findings reflect an improved national mood toward the economy.

He said the 1.3% rise in confidence to 40.7% marks a tangible improvement, noting that more than 60% of Jordanians believe the economy is heading in the right direction, a sign of improved government communication and public trust.

Farajat said rising confidence indicators represent an important step, and that the current positive momentum should be used to launch productive programs in the governorates, promote entrepreneurship, and stimulate local economic activity from the ground up.

//Petra// AF

15/10/2025 20:49:58