AMMAN — A
World Bank report released on Tuesday stated that the Jordanian economy has experienced a 1.6
percent downturn over the past three decades.
اضافة اعلان
The
report, launched during a ceremony at the Shoman Foundation, and titled “Economic Observatory of Jordan: a Long
Road Filled with Uncertainties Spring 2021,” is issued twice each year to give
policymakers, think tanks, the public, and the
World Bank Group Jordan the
latest economic developments and expectations.
The
report focuses on the
World Bank’s latest research about the Jordanian economy within
international context, in addition to evaluating the impacts of other
developments and changes on the Kingdom.
Other
sections of the report highlight the pandemic’s repercussions on the private
sector and poverty rates in Jordan.
The
report laid out the government’s response program to the pandemic, such as
financial support the government provided for families in need through the
National Support Fund.
“The current crisis
provides a window of opportunity to build back better,” said Saadia Refaqat,
World Bank senior economist and author of the report, indicating that the
government must focus on reforms to enhance the investment climate and provide
an opportunity for growth and job offers.
In a statement
released with the report, Adli Kandah, economic, banking and financial expert
said that the report highlighted the issues and challenges in the Jordanian
economy, adding that to get the economy back on track requires “essential
policymaking amendments on the financial and economic level.”
Nedal Azzam, executive
director of the Central Bank of Jordan briefly addressed the rising price of
commodities before explaining the Central Bank’s role during the pandemic,
according to the statement.
Zafiris Tzannatos,
senior consultant for development strategy and social policy indicated that the
pandemic has hit countries harder that had pre-existing structural issues.
Tzannatos added that
although Jordan had such structural issues, the government’s response has
managed to keep the impact of pandemic on lives and livelihoods below what has
been seen in comparative countries.
“As the title of the
World Bank report suggests, not only Jordan, but also the whole world, face an
uncertain and long trail ahead,” Tzannatos said.
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