Gov’t announces two-year, JD480m economic stimulus program

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The Minister of State for Media Affairs Sakher Dudin (right) at the Prime Ministry on Sunday, August 29, 2021. The government announced that it would pump some JD480 million help the economy recover. (Zaina Zinati/Jordan News)
AMMAN — The government announced its 2021–2023 priorities aimed at promoting job growth and economic recovery at a press conference held at the Prime Ministry on Sunday.اضافة اعلان

The Minister of Planning and International Cooperation Nasser Shraideh addressed the importance of the priorities at the conference and the importance of making them transparent to Jordanian citizens.

Some JD480million will be allocated to multiple sectors to help return the national economy to its pre-pandemic status and set up economic recovery within the next two years, the government announced.

The implementation of 53 priorities in the two-year policy program will be subdivided into three schemes that are crucial for any sustained improvement to Jordan's economy. Shraideh was joined by the Minister of State for Media Affairs Sakher Dudin.

The subdivisions that will be focused on for the next 24 months include improving the investment environment, supporting the private sector to create more job opportunities, and lastly, supporting priority sectors.

Shraideh also discussed the government’s intent to launch five infrastructure projects at a cost of JD260 million that will focus on the budding technology sector, as well as the tourism, agricultural, and industrial sectors.

However, Shraideh said that they first want to reduce energy costs and reorganize customs duties. The minister underlined the importance of the reorganization by stating that when customs duties increase so does smuggling.

The minister also emphasized the importance of prioritizing the private sector to allow more graduates and women the opportunity to enter the workforce; two demographics that currently makeup only a minority of the current labor pool.

He also disclosed that the public-private sector collaborations highlighted in the program will amount to JD3.8 billion.

Shraideh said that a semi-annual review will be conducted for the duration of the two years in order to assess the development of the program.

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