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ESC discusses economic fallout from Russia-Ukraine crisis

Grain wheat
A Port facility to load grains on board ships. The Agriculture Ministry official Mahmoud Rabaea said that the Kingdom's imports from Russia and Ukraine, mainly grains and oils, do not exceed 7 percent. (Photo: Envato Elements)
AMMAN — The Economic and Social Council (ESC) on Saturday discussed the repercussions of the Russian-Ukrainian crisis on the Jordanian economy in order to come up with a policy paper and proposals to overcome any adverse impact, according to the Jordan News Agency, Petra. اضافة اعلان

In a session held via zoom, specialists, experts and representatives of the public and private sectors recommended shifting imports to other countries and diversifying energy sources, while enhancing cooperation between the industrial and commercial sectors and maintaining financing programs for economic sectors and food security networks.

ESC President Mousa Shteiwi told the session that the Russian-Ukrainian conflict constituted a global crisis from the onset, and that it will impact Jordan just like other countries in the region.

The council sought to look into the crises’ possible effects on the Jordanian economy to present its recommendations to allow the government to take proactive measures that address the crisis with minimal losses, he said.

Agriculture Ministry official Mahmoud Rabaea said that the Kingdom's imports from Russia and Ukraine, mainly grains and oils, do not exceed 7 percent, adding that “the impact depends on the weight of Russia and Ukraine in export markets.”

Ministry of Higher Education and Scientific Research Secretary-General Mamoun Debei told the session that the ministry has initiated a platform for Jordanian students in Ukrainian universities, urging medical and dentistry students to transfer to Ukraine’s neighboring countries that have similar education systems.

Participants pointed out that the crisis will, in the medium-term, directly or indirectly impact food security and energy as well as the food chain costs, which will, in turn, reflect on inflation and also hit other vital sectors, such as tourism and transport.


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