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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