Amman: The international financial community has reaffirmed its confidence in Jordan’s economic trajectory as Standard and Poor’s (S and P) maintained the Kingdom’s sovereign credit rating at BB- with a stable outlook, reflecting the nation’s continued economic resilience despite regional challenges.
According to Jordan News Agency, this credit rating stability represents a significant achievement for Jordan’s economic policies and structural reforms, as noted by Firas Sultan, the financial and banking sector representative at the Jordan Chamber of Commerce. “The maintenance of Jordan’s credit rating confirms that our national economy is moving in a positive direction,” Sultan stated in a Sunday announcement. “The reforms and measures implemented by the government since its formation are beginning to translate into tangible results and are reflected in growth rates, aligning with the Economic Modernization Vision.”
In its report, S and P cited Jordan’s ability to navigate regional and global economic developments as key factors in its decision. The rating agency specifically highlighted the Kingdom’s capacity to secure alternative financing sources through institutions such as the International Monetary Fund, World Bank, and European Union.
The pegging of the Jordanian dinar to the US dollar has contributed significantly to price stability and inflation containment, with S and P forecasting inflation rates to remain at acceptable levels of approximately 2.2 percent in 2025. Additionally, the current account deficit has decreased to 4.5 percent of GDP in 2024, its lowest level since 2019.
Sultan, who also serves as Second Vice President of the Chamber, emphasized that this rating stability enhances international community confidence in Jordan’s national economy and its objectives of providing a stimulating investment environment for economic growth. “It represents a major international testament to the prudence of fiscal and monetary policies and structural reforms implemented by the Kingdom across all modernization paths,” he added.
The maintenance of this rating follows S and P’s upgrade of Jordan in its previous assessment in September 2024, further bolstering the Kingdom’s position as a safe and attractive destination for investments. Sultan also highlighted the importance of measures taken by the Central Bank of Jordan, which have contributed to maintaining monetary and financial stability in the Kingdom, supported by record levels of foreign reserves exceeding $21 billion.
Standard and Poor’s is one of the largest independent credit rating agencies globally and is known for issuing important stock market indicators, most notably the “S and P 500,” which includes the shares of the 500 largest and most important companies listed on American trading markets.