AMMAN — Governor of the Central Bank of Jordan (CBJ) Adel Sharkas on Thursday reaffirmed that the Kingdom’s monetary policy has successfully preserved strong monetary and banking stability, translating into tangible results on the ground despite ongoing regional and global challenges.

 

Speaking during a panel discussion titled "Monetary Policy and Macroeconomic Stability" at the American University of Madaba, Sharkas stressed that safeguarding monetary stability remains the CBJ’s central objective and a key pillar of macroeconomic stability, as it provides a secure, investment-friendly environment that supports growth and long-term development planning.

 

He said the CBJ gradually shifted to an expansionary monetary stance starting in September 2024, after its earlier tightening cycle, in line with global central banks, achieved its objectives, according to the Jordan News Agency, Petra.

 

Since then, the bank has lowered interest rates five times, by a cumulative 150 basis points, reflecting its commitment to balancing monetary stability with supporting economic activity.

 

Sharkas noted that current indicators point to strong monetary stability, citing the CBJ’s foreign reserves, which have exceeded $24 billion, enough to cover more than seven months of imports, and a decline in dollarisation to 18.2 per cent by the end of September 2025. Inflation has also remained contained, stabilising near 2 per cent during the first three quarters of 2025.

 

Digital payments continue to grow, he added, reaching JD31 billion by the end of September 2025, underscoring the strength of the Kingdom’s digital financial ecosystem and its shift toward a digital economy.

 

Sharkas said the national economy expanded by 2.8 per cent in the second quarter of 2025, demonstrating resilience to external shocks and regional volatility, supported by continued implementation of fiscal and structural reforms that have strengthened macroeconomic fundamentals, enhanced the business environment and improved competitiveness.

 

He highlighted several positive indicators, including foreign direct investment, which surpassed $1 billion during the first half of 2025, marking a 36.4 per cent increase, a sign of investors’ confidence in the Jordanian economy.

 

National exports grew by 8 per cent during the first eight months of 2025, reaching $8.6 billion, driven by a 7.6 per cent increase in non-traditional exports — accounting for 88 per cent of total exports, and an 11.2 per cent rise in traditional exports such as potash and phosphate.

 

Remittances increased by 4.1 per cent to $3.3 billion during the first three quarters of 2025, while tourism revenues continued their post-pandemic recovery, rising by 6.5 per cent in the first 10 months of the year to $6.6 billion despite regional geopolitical tensions.

 

Sharkas also commended the American University of Madaba for the quality of its academic programmes, underscoring the importance of strengthening cooperation between the university and the CBJ in academic, research and capacity-building fields.