Khasawneh on Jordan’s economy: Our situation is secure and stable

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AMMAN – On Thursday, Prime Minister Bisher Al-Khasawneh affirmed that the government is working to mitigate the ongoing inflationary effects stemming from the COVID-19 pandemic and the Russian-Ukrainian war, which have impacted supply chains, Al-Ghad reported.اضافة اعلان

During a meeting with the Senate's Financial and Economic Committee to discuss and approve the general state budget 2024, Khasawneh stated that Jordan has consistently maintained the lowest inflation rates in recent years compared to all non-oil-producing countries in the region.

“Our situation in Jordan is secure and stable, and positive impressions empower us to enhance the investment environment, continue modernization, achieve growth, and maintain positive economic performance,” Khasawneh stated. The country’s credit rating remains intact with international rating agencies.

He highlighted that the government has approved a budget for the fourth consecutive year without introducing new taxes or fees.

Khasawneh also affirmed that Jordan possesses an unprecedented strategic foreign reserve amounting to $18 billion, thanks to the practical policies of the Central Bank of Jordan (CBJ).

He expressed pride in the positive performance of the national economy despite challenges and difficulties. Local revenues cover 90 percent of the current expenditures in the 2024 budget project. The indicators are very positive in terms of self-reliance. Khasawneh clarified that Jordan achieved positive economic growth, reaching 2.7 percent during the first three quarters of 2023, despite the events and repercussions of the Israeli war on Gaza.

He highlighted the government’s implementation of executive programs to transform the Economic Modernization Vision (EMV) into positive economic growth rates. These efforts aim to create one million job opportunities over the next 10 years. Khasawneh emphasized that the EMV is persistently working toward achieving its political, economic, and administrative targets.

Jordan achieved exceptional success in seven reviews with the International Monetary Fund (IMF). Recently, the country secured a new program worth JD1.2 billion that will extend until 2028. Jordanians designed and executed this program entirely, earning praise from the World Bank and donor agencies.

The government has launched an electronic system for monitoring performance in the EMV and the public sector update. Any citizen can transparently access and follow this system.

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