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ABJ’s Mahrouq says Jordan’s economy shows resilience with record foreign reserves

By : staff writer

Jordan Daily – Jordan’s foreign reserves have reached an unprecedented level, reflecting the national economy’s ability to meet its import needs for nine months, a figure three times the global average required to maintain reserves, according to Dr. Maher Al-Mahrouq, the General Manager of the Association of Banks in Jordan (ABJ).

The foreign reserves of the Central Bank have reached a new record level of $19.1 billion, sufficient to cover the Kingdom’s imports of goods and services for 8.3 months.

In press remarks, Al-Mahrouq added that this achievement reflects the strength and stability of the national economy, thanks to the wise monetary policies adopted by the Central Bank of Jordan , pointing out that these reserves were not accumulated in a traditional way, but were the result of a series of measures and policies aimed at achieving the Central Bank’s objectives, which include maintaining monetary stability, achieving high growth rates, and controlling inflation rates.

Dr. Al-Mahrouq affirmed that this achievement reflects the national capacity and economic attractiveness of Jordan, emphasizing the need to continue working hard to maintain this outstanding performance and enhance it in the face of the current economic and political challenges in the region.

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