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G-7 envoys vow continued support for Kingdom

By JT - Oct 22,2018 - Last updated at Oct 22,2018

AMMAN — Prime Minister Omar Razzaz on Sunday met the ambassadors of the Group of Seven (G-7) and representatives of international donor organisations and reviewed Jordan's efforts in the field of economic reforms, the Jordan News Agency, Petra, reported.

During the meeting, which was attended by the Minister of Finance Ezzeddine Kanakrieh and the Minister of Planning and International Cooperation Mary Kawar, Razzaz outlined the economic challenges that Jordan has faced over the past years, pointing out that the external crises have cost Jordan around $17 billion, including the global financial crisis, decline of investments, border closure and the halt to Egyptian gas supplies. 

He also underlined the measures taken by the government to address the budget deficit and the increasing public debt ratio to the gross domestic product (GDP), pointing out that such measures aim to put Jordan on the right economic track and turn the challenges into opportunities.

On the income tax draft law, Razzaz pointed out that the government had studied the tax burden on Jordanians, which constitutes 26 per cent of the GDP, noting that the burden is not balanced between direct and indirect taxes, as the existing tax regime does not differentiate between poor, rich and middle income citizens.

Razzaz stressed that the government’s priorities for the next two years “2019 and 2020” have been set in line with His Majesty King Abdullah’s Speech from the Throne at the opening of the ordinary session of the Parliament last week, which is based on three main pivots: the rule of law, a productive state and the improvement of services provided to citizens. 

The G-7 ambassadors and representatives of donor organisations stressed their commitment to supporting Jordan to face economic challenges and enhance the Jordanian economy, expressing confidence in the ability of the Jordanian economy to face the challenges.

They also affirmed their support for Jordan’s reform process in all fields, pointing out the preparedness to assist Jordan in the fields of vocational and technical training for youth and their qualifying to the labour market. 

The G-7 is a group consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States.

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