Jordan presses ahead with ‘deep, serious’ structural reforms — finance minister

AMMAN — Jordan is pressing ahead with all the IMF-supported structural reforms to stimulate growth, Finance Minister Mohamad Al-Ississ said on Monday.

Speaking during a panel discussion at the Woodrow Wilson International Centre for Scholars, Al-Ississ noted that Jordan's economic reform programme entails “deep and serious” structural reforms.

Jordan is on the right track to meet its target debt level of 80 per cent of GDP, he said, highlighting the efforts to address tax loopholes and expand the tax base, which had raised government revenues without tax hikes.

Jordan has reduced custom tariffs and launched a reform related to the electricity sector, he said, noting that these steps are aimed to reduce the costs of doing business in the Kingdom and stimulate job creation in the private sector.

According to Al-Ississ, the  Kingdom has allocated some $2.1 billion of its 2022 budget for capital spending to boost growth and investment in infrastructure, showing a 43  per cent increase against the previous year, which he described as an “unprecedented expansion”.

He also urged the participating countries to further support Jordan's efforts to assist refugees.