Economists and private-sector representatives said Standard & Poor’s decision to affirm Jordan’s sovereign credit rating at BB-, with a stable outlook, is an important indicator of the national economy’s resilience in the face of regional and global challenges.
They said the decision helps maintain the confidence of investors and lenders in Jordan’s economic, fiscal and monetary policies.
The experts agreed that maintaining the credit rating represents a strength for the Jordanian economy, stressing the need to accelerate the implementation of major projects and strengthen the private sector’s role. This, they said, would help Jordan gradually move from maintaining stability toward improving its credit rating and enhancing the competitiveness of the national economy.
Former Minister of State for Economic Affairs Yousef Mansour said the rating confirmation sends a positive and reassuring signal to investors and lenders, reflecting the strength and resilience of the national economy and its ability to withstand challenges, particularly amid changing regional conditions.
Mansour explained that a country’s credit rating is one of the key indicators considered by investors when making investment decisions. Maintaining the rating without a downgrade, particularly in a region experiencing rapid changes, strengthens confidence in Jordan’s economy and investment environment.
He added that the stable rating also indicates the effectiveness of the economic and fiscal policies being pursued, expressing expectations that the rating could improve next year as the government begins implementing major projects aimed at supporting economic activity and stimulating growth.
Mansour said the impact of the credit rating extends to financial markets and Jordan’s ability to secure loans. An improved rating would encourage lenders to provide financing and help the Kingdom obtain loans on better terms and at more favorable interest rates, particularly when borrowing is directed toward productive and development projects.
Economic expert Adli Qandah said S&P’s decision to maintain Jordan’s sovereign rating at BB-, with a stable outlook, confirms the economy’s ability to remain resilient, preserve monetary and fiscal stability and meet its obligations despite regional instability, higher energy prices and declines in some economic activities.
He said the stable outlook reflects a balance between strengths, particularly foreign reserves, monetary policy stability and international support. He added that expectations for average economic growth to accelerate to around 3.2% during 2027-2029 demonstrate the resilience of the Jordanian economy.
Professor of Finance at Al al-Bayt University Omar Al-Gharaibeh said maintaining the rating was not merely a routine technical decision but rather an international message confirming that the Jordanian economy has the capacity to absorb shocks and preserve stability despite regional turmoil.
He said the importance of the decision has increased amid changes affecting trade, tourism and energy dynamics, noting that successful monetary and fiscal policies in maintaining stability strengthen the confidence of creditors and investors and reduce pressure on the national economy.
Al-Gharaibeh highlighted the stability of the exchange rate and the increase in foreign reserves, along with the continuation of the structural reform program supported by the International Monetary Fund.
He called for greater focus on high-potential sectors, particularly technology, software, artificial intelligence and renewable energy, while accelerating administrative reforms, simplifying investment procedures and strengthening the private sector as a key driver of growth.
Jordan Chamber of Industry President Fathi Al-Jaghbir said maintaining the rating at BB- with a stable outlook demonstrates the strength and resilience of the national economy and its ability to adapt to external shocks, particularly amid the exceptional geopolitical and economic conditions affecting the region.
Al-Jaghbir said the significance of the assessment lies in the fact that it was issued by an independent international institution, reflecting continued confidence in Jordan’s economic, fiscal and monetary policies, progress in economic reforms, monetary stability and higher foreign reserves.
He noted that the industrial sector represents one of the Jordanian economy’s key sources of strength and resilience, having continued to grow and expand into export markets despite higher shipping and energy costs and disruptions to supply chains.
He said the expected acceleration in average economic growth to around 3.2% during 2027-2029 is a positive indicator, but requires continued efforts to stimulate investment, production and exports and accelerate implementation of the targets of the Economic Modernisation Vision and its associated major projects.
Al-Jaghbir stressed the need to translate economic and fiscal stability and positive assessments by international institutions into greater investment, job creation and sustainable growth by improving the business environment, reducing the costs of doing business, strengthening the competitiveness of productive sectors and enabling Jordanian industry to access more regional and global markets.
Source: Petra
