Flag description:
three equal horizontal bands of black (top), representing the Abbassid Caliphate, white, representing the Ummayyad Caliphate, and green, representing the Fatimid Caliphate; a red isosceles triangle on the hoist side, representing the Great Arab Revolt of 1916, and bearing a small white seven-pointed star symbolizing the seven verses of the opening Sura (Al-Fatiha) of the Holy Koran; the seven points on the star represent faith in One God, humanity, national spirit, humility, social justice, virtue, and aspirations; design is based on the Arab Revolt flag of World War I
Economy
Jordan
Economy - overview:
Jordan is a small Arab country with insufficient supplies of water, oil, and other natural resources. Poverty, unemployment, and inflation are fundamental problems, but King ABDALLAH II, since assuming the throne in 1999, has undertaken some broad economic reforms in a long-term effort to improve living standards. Since Jordan's graduation from its most recent IMF program in 2002, Amman has continued to follow IMF guidelines, practicing careful monetary policy, making substantial headway with privatization, and opening the trade regime. Jordan's exports have significantly increased under the free trade accord with the US and Jordanian Qualifying Industrial Zones (QIZ), which allow Jordan to export goods duty free to the US. In 2006, Jordan reduced its debt-to-GDP ratio significantly. These measures have helped improve productivity and have made Jordan more attractive for foreign investment. Before the US-led war in Iraq, Jordan imported most of its oil from Iraq. Since 2003, however, Jordan has been more dependent on oil from other Gulf nations. The government ended subsidies for petroleum and other consumer goods in 2008 in an effort to control the budget. The main challenges facing Jordan are reducing dependence on foreign grants, reducing the budget deficit, attracting investments, and creating jobs.
GDP (purchasing power parity):
$28.45 billion (2007 est.)
GDP (official exchange rate):
$16.01 billion (2007 est.)
GDP - real growth rate: