2nd Jordan Economic Forum launched…1st, final add

On the main indicators achieved by Jordan’s economy, Razzaz pointed to the increase of national exports by 4.3 percent during the first half of this year, compared with the same period last year, and the surge of the Central Bank of Jordan’s reserves by 6.4 percent during the first seven months of 2019, which reached $12.2 billion compared with $11.5 billion, against the same period last year.

In the same context, he said the tourism income increased by 8 percent during the last eight months of 2019, as Jordan moved 10 rankings on the Sustainable Development Index against the same period 2018.

The premier also announced an increase in the income tax revenues by JD41 million in August, 2019, compared with JD30 million the same month 2018, as sales tax collected reached JD330 million, against about JD261 million the same month of 2018.

During the last ten years of instability and volatility, Razzaz noted the energy sector was the most affected, adding a high national committee that brings together the government, heads of House, and Senate committees and experts meet periodically and continuously to review the energy network related to power generation, resource diversification, and generation to come up with specific recommendations that the government is working on.

In this context, the premier said bureaucracy is still an obstacle in dealing with the private sector that seeks to invest and export.

On solutions, he noted the legislative environment’s instability during the recent years is due to the great difficulties facing Jordan, and the government had to make difficult but necessary decisions, including the income tax law, pointing to a flaw in the tax structure in general, which leads us to the challenges that require structural remedies in the energy sectors and public finance.

Discussing the government’s action agenda, he said: “We are in a program that has emerged from meetings with relevant actors, and we have a five-year plan underway with the continued follow-up of His Majesty the King and the government to the goals, programs and what is being achieved, in addition to the program of government priorities for 2019 and 2020, which is under implementation. ”

Razzaz also announced the remaining months of this year will witness decisions and legislations that will be taken and completed, in cooperation with the Lower House, in the direction we all seek towards self-reliance, which is no longer a luxury, but an option we all commit to it.

Source: Jordan News Agency