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Towards real economic stimulus

Apr 30,2020 - Last updated at Apr 30,2020

Ad-Dustour’s Lama Absah said that the government’s efforts during pre-coronavirus stage is one thing, but the decisions made to support the economy during the pandemic is another thing, while both do not meet the requirements of the recovery of the economy, which suffers chronic and new imbalances.

The most manifest imbalances, during before the emergence of coronavirus, have been the high rates of unemployment and poverty, along with the increase in public debt.

In spite of all positive international reports accompanied by overly reassuring statements that contradicts the Kingdom’s fiscal and economic situation, we need thorough studying of the real condition, to determine the necessary decisions and policies to be adopted during the current period and the medium term.

The writer said that the most important thing at the economic level is preventing shocks on the one hand, and deepening self-reliance on the other.

What the country needs is enhancing confidence in economy and focusing on productive economy, mainly increasing the production of the basic commodities, as well as investing in various sectors to generate jobs, which betters citizens’ living conditions.

Commenting on the legalisation in this arena, Absah said that the legislation system is supposed to be channelled towards preserving the Kingdom’s resources and increasing its added value in the national economy.

On the other hand, the legislation system should also protect the investors, and more than that it could be a major stimulus for businesses. The writer also drew attention to the need of revising the international agreements, to assess its benefit for Jordan.

The current period if extremely hard, the stimulus economic packages designated for pre-coronavirus stage do not fit this stage, we have to save the community and economy, she concluded.

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