(MENAFN) Jordan's economic progress is forecasted to plunge this year due to the spillover of security conditions in Syria and Iraq, following four years of steady recovery, based on the available data.

Additionally, real growth in the Kingdom's gross domestic product (GDP) is anticipated to hit 2.5 percent, compared to 3.1 percent in 2014, marking the slowest rate since 2010's first half.

However, the World Bank stated that recent government incentives in regard to the real estate and tourism divisions have had a positive impact that will back growth in the current year.

"This setback in growth is due to closing down trade channels with Syria and Iraq; however the low oil prices continue to have a positive effect on the current budget deficit," said the World Bank report.