Jordan managed to reduce impact of covid economic crises — IMF

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(File photo: Jordan News)
AMMAN — Director of the Middle East and Central Asia Department of the International Monetary Fund (IMF) Jihad Azour said during a press conference on the prospects of the economy that the region is suffering from an economic slowdown due to the rise in energy and food prices, as well as the tightening of monetary policy as a result of raising interest rates, according to Ammon News.اضافة اعلان

Azour praised the success of the program Jordan designed in 2020, which has, among its goals, reduction of the impact of successive economic crises on the Kingdom’s economy, and boosting Jordan’s ability to confront the COVID-19 pandemic through more financial flexibility.

He also praised Jordan’s ability to implement a set of important financial, monetary and structural reforms that enabled it to maintain macroeconomic stability, and investor confidence, and control inflation, despite severe external shocks and challenges.

Azour added that the pandemic negatively affected the Jordanian economy, and the region as a whole, with the most serious outcome being the increase in unemployment. The conference tackled factors that would reduce unemployment, such as implementing more structural reforms and reducing energy and labor costs in order to increase the competitiveness of the private sector.

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