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AMMAN — The Kingdom’s economy is on track for better growth, and the dinar is at its strongest level despite the heavy toll of regional turmoil, Prime Minister Abdullah Ensour said Saturday.
Speaking at a press conference to announce a package of investment incentives, Ensour noted that the instability surrounding the Kingdom has affected the performance of the national economy, stressing that economic issues are the government’s top priority.
“Our economy’s performance is solid. International organisations have strong confidence in it,” he said, adding that the Kingdom is on the right track for economic improvement.
“We don’t want to blame all our economic problems on the wars around us, which are hundreds of kilometres away from the heart of the country, but we cannot ignore their consequences on the economy,” the premier said.
The first toll of regional instability is assumptions by investors that Jordan has an uncertain investment climate, Ensour told reporters.
Due to wars in the region, Jordan’s national carrier — Royal Jordanian — cannot fly north or east.
The Kingdom’s land cargo fleet, which the premier said is one of the biggest in the region, cannot go to Syria, Turkey and Iraq.
Iraq, he noted, used to be Jordan’s biggest importer.
Another example Ensour cited is the fact that over 160,000 jobs in the domestic market are currently occupied by Syrians, resulting in higher unemployment among Jordanians.
Hosting around 1.4 million Syrians has also had a negative impact on the Kingdom’s trade balance as the country has had to import more goods to meet the needs of the rising population, he pointed out.
Reiterating that the economy and the dinar remain strong, the premier said the draft state budget law, that will be released in the coming days, will show that the deficit is under control, revenues are higher and spending is up slightly due to natural growth.