Jordan pledged to undertake structural reforms that would aid in economic recovery and stimulate growth, after the end of the review program conducted by the International Monetary Fund with the Kingdom, where the IMF asked Jordan to intensify the economic reforms necessary to face the financial, monetary and operational consequences of the outbreak of the Corona pandemic in the country.
The Executive Board of the Fund concluded the first review of the agreement with Jordan, in light of the "extended fund facility" to face the consequences of Corona, with a value of $ 1.3 billion approved in March 2020. The recent fund review ended by restoring short and medium term estimates for growth to 2.5%, with total revenues 7.8 billion dinars ($ 10.9 billion) as an annual average.
In this context, the Jordanian Minister of Finance, Muhammad Al-Asses, affirmed that "the approval of the Council on the review confirms Jordan's commitment to undertake structural reforms, which represents a positive indicator that will positively affect the confidence of donors, investors and markets." He expressed "anxiety" about the increase in unemployment due to the Corona pandemic, which is the government's biggest "concern", especially among the youth. Stressing that "the government's priority is economic recovery and a return to job-creating growth."
At the end of last November, the Jordanian Department of Statistics revealed that the unemployment rate had risen to 23.9% in the last third quarter from 19.1% on an annual basis.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
