December 20, 2008 2:45 am by pna
AMMAN, Dec. 19 — The global financial crisis is expected to have a positive impact on Jordan's economy as an increase may been seen in inward flow of remittances and investments, local daily The Jordan Times Friday quoted a leading economist as saying.
Jordanian expatriates' consumption behavior, especially in the Gulf states, where the majority of remittances come from, is likely to change in light of the crisis, which means more savings, Consulting Group (EnConsult) CEO Yusuf Mansur said on Thursday.
Interest rate in Jordanian banks is still higher than that in the banks in Dubai, for example, which will encourage to deposit the money in Jordanian banks, added Mansur.
According to the government, workers' remittances to Jordan during the January-August period of this year exceeded 3 billion dollars. Read more
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