An economic environment conducive to recovery and sustainable growth in Jordan – experts

AMMAN – The opinions of economists show that if “the same economic approaches continue to be adopted, the economic performance of the Kingdom will only worsen”.

Economist Mazen Marji told the Jordan Times on Thursday that the Jordanian economy has suffered a devastating downturn like all other countries amid the ongoing pandemic.

However, even before the pandemic, the Jordanian economy had faced major challenges, such as poverty, unemployment and slow economic growth. The combined effect of the pandemic and the pre-existing challenges have resulted in “a dire economic reality”.

“Jordan’s national debt has reached JD 33 billion, and the country’s economic approach and structure is not conducive to sustainable economic growth,” Marji said.

Unemployment among Jordanian youth has reached 50% and the unemployment rate currently stands at 25%, according to Marji, noting that four years ago poverty rates reached 14.7% and that due to pandemic, that number is increasing.

Economist Husam Ayesh said the current deterioration in economic performance can be attributed to the Kingdom’s excessive economic dependence on foreign aid and subsidies, high indebtedness, high unemployment and unemployment. high cost of living, in addition to constantly changing regulations, policies and governments. .

In addition, he stressed that the government should pay attention to economic recovery to attract investment to the country.

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