Minister of State for Economic Affairs, Mohannad Shehadeh, affirmed that the Jordanian economy has proven its resilience and ability to grow despite external shocks. He stressed that there have been no disruptions in supply chains during the current war, noting that the government has implemented multiple contingency plans to manage its repercussions.
اضافة اعلان
In televised statements on Monday, Shehadeh explained that the Economic Modernization Vision contributed to significant growth in productive sectors over the past year. Agriculture grew by 7.7%, industry by 5%, and exports increased by approximately 10%. Furthermore, the financial market realized profits of about 40%, leading to a rise in the overall economic growth rate from 2.6% to 2.8%.
Crisis Management and Strategic Logistics
The Minister pointed out that the Jordanian economy has navigated multiple crises over the past quarter-century—including the global financial crisis, the Iraq war, the Gaza war, and refugee influxes—emerging stronger each time.
To mitigate the impact of the current conflict, Shehadeh outlined several government measures:
Export Restrictions: Prohibiting the export of essential products to safeguard national stockpiles.
Logistical Alternatives: Signing agreements with brotherly nations, such as Syria, to utilize the Tartus ports, and cooperating with Egypt to ease pressure on the Port of Aqaba.
Trade Facilitation: Activating the "Green Line" at customs to expedite the clearance of food supplies, ensuring that borders and airspace remain open.
Energy and Inflation Control
Regarding energy, Shehadeh noted that global energy prices have surged by over 40%. He stated that the government would utilize a portion of its strategic oil reserves and apply a "price mix" policy to alleviate the burden on citizens, adopting a gradual approach to any potential price increases.
He emphasized that the primary challenge lies in controlling inflation rates. To this end, the government has:
Empowered the Military Consumer Corporation to stabilize the prices of basic goods.
Facilitated raw material access for industrialists to meet domestic demand at affordable prices.
Imposed strict legal measures against price manipulation and monopolization.
Investment and Financial Stability
Shehadeh confirmed that major capital projects are proceeding as planned, including the finalization of the "National Water Carrier" contract and the signing of the strategic railway project.
He concluded by highlighting Jordan's financial stability, noting that capital inflows and bank assets exceed Basel requirements, while the Central Bank’s foreign currency reserves remain at optimal levels. He urged observers to look at the Jordanian model as a proven example of overcoming crises through transparency and strategic planning.
