Deferment of loan repayment will pump in JD200 million

3. Clothes
A clothing shop in Amman. (Photo: Ameer Khalifeh/Jordan News)

AMMAN — Banks’ deferment of loan repayment in June will reflect “positively” on domestic commercial activity, a businessman said, according to the Jordan News Agency, Petra.اضافة اعلان

Raed Al-Hamadeh, the representative of the foodstuff sector in the Jordan Chamber of Commerce, said in a statement Saturday that the move will see a flow of cash to the local market estimated at JD200 million.

He said the liquidity will revive Jordan’s commercial and service sectors and stimulate the economy.

The decision will boost the citizens’ purchasing power by providing liquidity, which will increase the demand for purchasing goods, he pointed out.

He said the deferring loan repayments until after Eid Al-Adha, or the feast of Sacrifice, will also enable people to buy the goods and services they need during the holiday, primarily hospitality commodities.

As for the impact of citizens’ envisaged spending, he said Jordan’s commercial and service sector is counting on the coming days to revive the commercial movement and overcome the weak trading during the past months.

He said Jordan’s food sector needs more liquidity and that importers desire easier financing terms to sustain market supply operations and meet the local strategic food stocks.

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