AMMAN —
Deputy Saleh Al-Armouti criticized the government's
move to agree on a new economic program with the
International Monetary Fund (IMF), stating that the IMF represents a new form of colonization as it
dominates political decisions and interferes in the
management of a country's affairs.
اضافة اعلان
Armouti told Jo24 News that the government is borrowing for
spending purposes rather than investment, which has contributed to the slowdown
and decline of the national economy, resulting in increasing the debt to JD39
billion. This has pushed the debt level to exceed 115 percent of the
Gross Domestic Product (GDP), confirming that the government is violating the Public
Debt Law, which allows the debt to reach 60 percent of the GDP at its maximum.
Overspending and debt cycles
He emphasized that the policies pursued by successive
governments constitute a real disaster for the economy and the country, as the
size and manner of spending make it seem like the country is living in an
oil-rich state.
He pointed out that many countries in the world have
abandoned the
International Monetary Fund and have created comprehensive
economic revitalization that has had a positive impact on their citizens.
Armouti sounded the alarm about renewing the agreement with
the IMF, especially with the continued issuance of debt bonds to pay off the
interest on loans to the
Paris Club and the IMF. This has become a heavy burden
on the state treasury.
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