AMMAN — Economic experts believe
that if the government wants to deal with the risks forecast for 2022, it has
to attract foreign investors and build mega-projects that can provide jobs for
unemployed youth, contribute to eliminating poverty, and revive the economic
stagnation.
اضافة اعلان
The experts interviewed by
Jordan
News agreed with the Global Risks Report 2022, issued by the
World Economic Forum (WEF), which said that Jordan faces five risks this year: debt
crisis, unemployment and livelihood crises, natural resource crisis, prolonged
economic stagnation, and price instability.
Wajdi Makhamreh, investment and
economic expert, told
Jordan News that Jordan is passing through difficult
economic circumstances, yet "the government lacks a strategic plans to
cope with these crisis and this was made amply clear by the
COVID-19 pandemic".
Makhamreh said that there is a clear
decline in domestic investment and that the natural resources are not or underutilized,
which makes it incumbent on the government to build mega-projects and take
advantage of the natural resources if it really wants to revive the economy.
Hussam Ayesh, an economic analyst, said
that the government has to focus on attracting investments in light of the fact
that the activity of several sectors has stagnated due to the pandemic.
He added that the most prominent
problem facing Jordan is unemployment, and that while serious projects could
create job opportunities, "we are losing foreign investors and,
unfortunately, the government is not giving serious attention to those
investors, and does not encourage them to come and invest in Jordan".
According to Ayesh, for the time
being, the government should focus on taking advantage of all available
opportunities, such as natural resources, which are aplenty in Jordan, but are
not utilized.
Former general manager of the
Association of Banks in Jordan Adli Qandah told
Jordan News that
new projects must be developed in different sectors, as they would help unemployment
and poverty rates drop.
He said that the government needs to
strengthen its partnership with the private sector to develop new projects and
create incentives to revive the economy.
The COVID-19 pandemic and
its economic and social consequences still pose a serious threat to the world, and
the report said that the inequality in vaccination and the outcome of economic
recovery threaten to exacerbate geopolitical tensions.
The Global Risks
Report series tracks global risks perceptions among risk experts and world
leaders in business, government, and civil society. It examines risks across
five categories: economic, environmental, geopolitical, societal, and
technological.
Every year the report also analyses
key risks to explore further; these could be risks that feature prominently in
the survey, those for which warning signs are beginning to surface, or
potential blind spots in risk perceptions.
According to the report, only 6
percent of the population of the poorest 52 countries was vaccinated, and by
2024, countries with developing economies (excluding
China) will see
their GDP decrease by 5.5 percent, while countries with developed
economies will have exceeded GDP growth expectations by 0.9 percent, which
widens the global financial gap.
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