AMMAN — Net foreign investments dropped by $33 million during the first quarter (Q1) of 2019, registering the lowest decline in a year.
The Central Bank of Jordan's (CBJ) primary data showed that direct foreign investments in the Kingdom fell to $251 million by the end of Q1, in comparison with a $284 million drop during the same period last year, the Jordan News Agency, Petra, reported on Tuesday.
The drop is attributed to a decline in foreign investments in the energy sector, despite the improvements shown by other direct foreign investment indicators. With the drop, direct foreign investments now equal 2.5 per cent of the GDP.
A steep fall in direct foreign investments was experienced during the first quarter of 2018, according to Petra. The investment volume this year is expected to stabilise around $1 billion, or 2.3 per cent of the GDP, the CBJ said.