Jordan launches CGE model to asses impacts of policy changes
The Ministry of Planning and International Cooperation, in collaboration with the United Nations Economic and Social Commission for Western Asia (ESCWA), has launched a Computable General Equilibrium (CGE) model to analyze the potential impact of economic policies on setting the investment priorities.
The model, funded by the United Nations Children’s Fund (UNICEF), will act as a vital tool for decision makers and policy analysts in economic forecasting, as it measures the relationships among different sectors and provides estimates of supply curve, prices, and evidence-based analysis of different challenges arising from external factors.
In a statement on Wednesday, Minister of Planning and International Cooperation Nasser Shraideh pointed to the importance of the model as it provides wide analysis and numerical data on the impact resulting from changes in policy, technology, or external shocks.
Executive Secretary of ESCWA Rola Dashti said that Jordan is the first member state of ESCWA to develop this new generation of smart economic models, noting that it will enable decision makers to simulate a set of economic and social policies in an immediate and interactive manner.
UNICEF representative Tania Chapuisat indicated that this joint project with ESCWA comes as an extension of the long-term cooperation with the Ministry of Planning and International Cooperation in many developmental aspects.
SOURCE: JORDAN NEWS AGENCY