Weak purchasing power ahead of Eid Al-Fitr

Jordan

Published: 2023-04-09 10:20

Last Updated: 2024-04-28 02:52


Weak purchasing power ahead of Eid Al-Fitr
Weak purchasing power ahead of Eid Al-Fitr

The representative of the clothing, garment and jewellery sector at the Jordan Chamber of Commerce (JCC) Asaad Al-Qawasmi said that the local markets continue to suffer from an unprecedented stagnation and drop in purchasing power.

He told Roya that the reason behind the weak purchasing power ahead of Eid Al-Fitr is the lack of liquidity among citizens, calling on the government to pay salaries early this month.

He also called for reaching an agreement with banks to postpone loan installments to allow citizens to purchase what they need for Eid Al-Fitr.

He pointed out that the figures recorded this season are 'very weak' in comparison with the previous seasons, noting that the local market is facing additional challenges.

He explained that merchants are struggling with issues related to taxes, price capping, licenses, customs and social security.