Khaberni - The World Bank expects the Jordanian economy to continue its gradual recovery over the coming years to reach a growth rate of 3% by 2028, despite economic repercussions resulting from the conflict in the Middle East and rising energy prices, shipping costs, and inflation regionally and globally.
According to the "Global Economic Prospects" report issued by the World Bank, the Jordanian economy is expected to grow by 2.7% in 2026 compared to an expected 2.8% in 2025, before rising to 2.9% in 2027 and reaching 3% in 2028, maintaining an upward growth trajectory, at a time when the Middle East and North Africa region, Afghanistan, and Pakistan are experiencing a sharp slowdown in growth to 1.6% during 2026 due to the repercussions of the regional conflict, according to the kingdom.
The report noted that the conflict in the Middle East has cast a shadow over the region's economies through a decline in economic activity, rising energy prices, increased shipping costs, and heightened inflationary pressures, alongside the ongoing uncertainty associated with geopolitical developments.
It further explained that Jordan was affected by rising energy prices, shipping and transportation disruptions, and weak financial transfers, which reflected on the pace of economic growth during 2026.
The report also predicted a slight widening in the current account deficit due to rising import prices, while an increase in fertilizer prices is expected to offset some of these pressures through rising Jordanian export revenues.
According to the World Bank data, Jordan's economy grew by 3.1% in 2023 before falling to 2.6% in 2024, while it is expected to rise to 2.8% during 2025.
At the regional level, the World Bank expected growth in the Middle East and North Africa region, Afghanistan, and Pakistan to drop to 1.6% in 2026 compared to 4% in 2025 before recovering to 5% in 2027, assuming the turmoil associated with the conflict subsides.
Globally, the report anticipated global growth to slow down to 2.5% in 2026 compared to 2.9% in 2025, approaching its weakest levels since the coronavirus pandemic, amid rising energy prices and continued inflationary pressures and increased borrowing costs.
The World Bank also projected the average price of Brent crude oil to reach $94 a barrel during 2026, up 36% from 2025 levels, which would reflect on the global inflation rates expected to rise to 4% compared to 3.3% in the previous year.
The report warned that continuing energy disruptions and the exacerbation of conflict consequences could push global growth down to only 1.3% during 2026, with inflation rising to 4.4%.
