AMMAN — The 2024 Financial Health Report issued by the Central Bank of Jordan (CBJ) indicated a “positive” shift in financial health indicators for households and individuals compared to 2022 and 2023.

 

The report, reviewed by Al Mamlaka on Monday, also showed a decline in the proportion of those classified as “vulnerable” and an increase in the share of “adaptive” and “financially healthier” groups.

 

The CBJ based its survey on 6,278 validated participants, a “significantly” higher number than in 2023 and 2022, giving the 2024 findings greater representativeness and accuracy in tracking developments in financial health.

 

The report noted that women tend to maintain better financial health than men.

 

According to the report’s breakdown of financial health by governorate, Amman topped the list, while Mafraq ranked highest in financial vulnerability.

 

The survey showed improvement in savings indicators, with a higher proportion of respondents reporting savings sufficient to cover at least three months of expenses compared to the previous year.

 

The report interpreted this as reflecting increased awareness of emergency planning and better household expenditure and savings management, which boosts resilience against price shocks or financial emergencies.

 

The report also noted a “significant” rise in the share of participants reporting high credit ratings, alongside observations regarding changes in some households’ ability to manage debt.

 

While improvements in savings and credit ratings are positive, the report warned that rising reliance on credit, along with persistent geographical and educational disparities, could pose new risks to household financial health if not addressed through balanced and empowering policies.

 

The report stressed the need for integrated policies combining awareness programmes, credit regulation, and targeted support for the most vulnerable groups.