Jordan's first quarter economic growth rises to 2.6 percent

Sat Jun 29, 2013 9:58am EDT
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AMMAN (Reuters) - Economic growth in Jordan picked up to 2.6 percent year-on-year in the first quarter from 2.2 percent in the fourth quarter, central statistics office data showed on Saturday.

The International Monetary Fund (IMF) said earlier this year it expects the economy to expand above 3 percent in 2013, reflecting an increase in government capital spending, a recovery in exports and higher domestic consumption.

Other signs of recovery include foreign reserves which have been boosted by at least $1.5 billion of Gulf money and greater confidence in the local economy by investors, officials say.

(Reporting by Suleiman Al-Khalidi; Editing by David Cowell)

Jordan's King Abdullah speaks during the closing ceremony of the World Economic Forum on the Middle East and North Africa at the King Hussein Convention Centre, at the Dead Sea May 26, 2013. REUTERS/Muhammad Hamed