Jordan

Jordan is located in the Middle East and is bordered by Syria to the north, Iraq to the north-east, Israel and The West Bank to the west, and Saudi Arabia to the south and east. It has a coastline on the Dead Sea and the Gulf of Aqaba.

Economy

Unlike its neighboring countries, Jordan has no crude oil supply and must depend on foreign oil. As crude oil prices rise, Jordan's economy has suffered. In a move to save $187 million for 2008, Jordan stopped many of its oil subsidies in February 2008. This move caused a sudden, 76% rise in oil prices, which in turn created a large increase in food prices. The inflation rate jumped from 12.5% in February to 14.1% in March.AMEInfo: Jordan's economy hit by soaring oil prices (April 28, 2008)

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