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‘Gov’t in final stages of preparing economic blueprint’

By JT - Dec 15,2014 - Last updated at Dec 15,2014

AMMAN — The government is finalising its 10-year blueprint for the Kingdom's economic and social policies, dubbed "Jordan 2025", which will be ready before the end of this year, Planning Minister Ibrahim Saif said Sunday.

Speaking at a Cabinet meeting, Saif added the framework will be handed to His Majesty King Abdullah as pledged by the government, the Jordan News Agency, Petra, reported.

On March 29, the King sent a letter to Prime Minister Abdullah Ensour directing the government to prepare a plan that would result in a stronger economy, in both macroeconomic and monetary aspects, and ensure consistency, increased competitiveness, productivity and self-reliance.

The ultimate goal, His Majesty said, is to achieve comprehensive development and ensure Jordanians get a “decent living and hope for a better future”.

Urging the sub-committees involved in preparing the blueprint to speed up their work and submit a report to the Cabinet as soon as possible, Prime Minister Abdullah Ensour said the "vision" includes two documents: one that details goals, and another that lists the procedures and executive programmes according to set timelines, Petra reported.

Saif noted that the framework includes priorities that should be focused on in order to improve the overall economy while taking into account the legislative, investment and institutional dimensions.

Secretaries general of the planning and finance ministries presented a briefing on the goals of the vision and reforms that should be undertaken in order to gain the maximum benefits.

Finance Ministry Secretary General Ezzedeen Kanakreyeh said the indebtedness rate has been shrinking since 2012, noting that in 2025, the national debt will constitute around 60 per cent of the gross domestic product, down from 84 per cent expected by the end of 2015.

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