(MENAFN) Jordan's Central Bank said that the country's economic growth is expected to increase by as much as 4 percent next year due to the decline in oil prices, which could lead to lessening the country's account deficit, Gulf Daily News reported.
The central bank that the decline in oil prices to their five-year low, from around USD115 a barrel to below USD70 a barrel is expected to have positive effects on Jordan, which imports all its oil needs.
Jordan said that the cheaper oil prices are expected strengthen the government's fiscal position by reducing state fuel subsidies and losses at the state electricity company.
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