Senate committee tackles economic fallout from Ukrainian crisis

2. Lower House
(Photo: Ameer Khalefih/Jordan News)
AMMAN — The Senate Finance and Economy Committee and a number of pundits on Tuesday discussed the repercussions of the Ukrainian crisis on the national economy, according to the Jordan News Agency, Petra.اضافة اعلان

The Russian-Ukrainian crisis is a global predicament, said Senator Jamal Sarayrah, head of the committee, and Jordan, like other countries around the world, cannot escape its effects. He underscored the importance of drawing up a policy paper that details the impact of the war on the Jordanian economy, as well as recommendations and solutions to avoid any negative ramifications.

He called for tracking the supply chain of basic materials and foodstuffs to the Kingdom, stressing that it must continu uninterruptede and be supported by the needed shipping lines.

The fallout of the crisis will be higher inflation, production, and energy rates, he noted, calling for a review of the 2022 budget to factor in the repercussions of this crisis on several vital sectors, including tourism, agriculture, trade, and transportation.

During the meeting, participants called for addressing the banking authorities to facilitate lending for basic commodities at reduced interest rates to enable the private sector to import goods and raw materials, whose prices have gone up globally. They also urged the government to enforce a realistic pricing policy that ensures the availability of goods at reasonable prices.

They underlined the importance of following up on the rehabilitation of agricultural land and supporting investors to cultivate basic produce and fodder, which directly affects the prices of red and white meat.

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