Saudi Arabia granted $400 million to support Jordan’s economy and ease its budget deficit, the Jordanian state-run news agency Petra said, citing Finance Minister Mohamed Abu Hammour.
The grant will help to finance a number of projects “which will reflect positively on the level and the quality of services provided to citizens and will help overcome the difficulties faced by the public budget,” the Jordanian minister was quoted as saying.
Jordan, one of the smallest economies in the Middle East, imports more than 90 percent of its oil and relies on foreign investment and grants to support its budget and current-account deficits. Political turmoil that has engulfed the Middle East in recent months led to unrest in Jordan by opposition groups seeking faster social and political change.
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