AMMAN — Jordan’s economy is expected to grow by 3.1 per cent in 2027, accelerating from a projected 2.7% this year, as the country navigates regional instability and disruptions to global energy and trade markets, according to the International Monetary Fund (IMF). 

 

In its World Economic Outlook report released Tuesday, the IMF revised its forecast for Jordan’s economic growth in 2026 to 2.7 per cent, down from 2.8% in 2025. Growth is expected to strengthen by 0.4 percentage points next year.

 

The forecast comes as data from the Department of Statistics showed that Jordan’s real gross domestic product (GDP) grew by 3% in the second quarter of 2026, up from 2.8 per cent in the same period last year.

 

The expansion was supported by growth across several productive sectors. Agriculture grew by 7.8 per cent, manufacturing by 6.2 per cent and the electricity sector by 5%, according to the department’s latest figures.

 

Regionally, the IMF projected that the economy of the Middle East and North Africa (MENA) would contract by 2 per cent in 2026 before rebounding to 7 per cent growth in 2027. Oil-importing economies, including Jordan, are forecast to grow by 4.7 per cent in both years.

 

The report also highlighted the impact of disruptions in the Strait of Hormuz on global oil markets. The closure of the strategic waterway has disrupted shipping through a key energy corridor that handled approximately 20 million barrels of oil per day before the war began.

 

The IMF projected average oil prices of $95.74 per barrel in 2026, falling to $87.39 in 2027. The forecast assumes that the strait will begin reopening in March 2027, with shipping activity gradually returning to pre-war levels by October.

 

The global lender warned that further regional escalation could prolong pressure on energy and food prices, with implications for inflation, economic growth and external balances, particularly in countries heavily dependent on energy imports.

 

Globally, the IMF projected economic growth of 3.1 per cent in 2026, rising to 3.4 per cent in 2027. Resilient energy supplies and increased investment in artificial intelligence technologies are expected to support growth, despite continued uncertainty stemming from geopolitical developments.