The 2021 State of Country Report, recently issued by Jordan’s Economic and Social Council (ESC), recommended efforts to continue efforts to maintain Jordanian dinar’s “attractiveness,” stability of its exchange rate, and reaching acceptable inflation rates, to ensure that the available economic resources are directed to support economic growth.
The report also called for continuing stimulus policies to support Jordan’s economic growth and enhance financial and monetary stability.
To enable medium, small and micro companies to obtain the necessary funding, the ESC document said this effort would help to conduct business according to medium or long terms, at appropriate interest rates under Central Bank of Jordan (CBJ)’s programs.
In addition, the report stressed the need to stimulate Jordan’s stock market by launching a set of legislative and technical measures aimed at attracting investment to the Amman Stock Exchange (ASE), issuing new financial services, as well as benefiting from the UAE expertise in issuing national bonds to finance production mega-projects.
The document, moreover, called for strengthening ASE and concerned stock bodies’ independence with the necessary support to implement their strategic plans, attract talent, and boost their financial position, by exempting the ASE from some expenses.
On future action, the report pointed to the need to provide facilitations to stimulate listing of new companies in the stock market, and enhance “institutional” investment by granting tax incentives and canceling tax on investment funds.
Source: Jordan News Agency