Jordan’s credit rating remains steady amid regional challenges

RIYADH: Fitch Ratings has confirmed that Jordan has maintained economic stability amidst regional challenges, holding a “BB-” rating with a stable outlook.

The agency noted that the country’s score reflects a heightened vulnerability to default risk, particularly in the face of adverse business or economic changes.

Highlighting Jordan’s commitment to fiscal consolidation, Fitch predicted a decline in the general government budget deficit to 2.2 percent of gross domestic product (5.2 percent at the central government level) in 2023, compared to 2.7 percent in 2022.