Despite global challenges, Jordan manages to maintain fiscal stability — CBJ governor

Despite global challenges, Jordan manages to maintain fiscal stability — CBJ governor

AMMAN — Amid the severe headwinds facing economies and banking institutions, the Jordanian banking sector continues to show resilience, Governor of the Central Bank of Jordan (CBJ) Adel Sharkas said on Saturday. Speaking during the 2nd Jordanian Banking Summit, organised by the Association of Banks in Jordan (ABJ), Sharkas said that “the most tangible achievement in 2023 was the continuation of economic reforms, following the completion of the sixth and the seventh reviews of the IMF-funded economic reform programme without delays or increasing taxes or imposing new ones”. "Such reforms enabled Jordan to start a four-year economic reform programme worth JD1.2 billion, amid exceptional circumstances and challenges facing the region and the entire world," he said. Sharkas said the launch of the green finance strategy, the first in the Middle East, was among the key achievements in 2023. The 2024 Jordanian Banking Summit, attended by governing boards of banks, chief executives, director generals and experts, discussed the latest updates in the banking sector, reviewed economic and financial developments and perspectives on the trends most likely to shape sector policies in 2024. Sharkas explained that all indications point to continued difficulties caused by the geopolitical and economic turmoil at the regional