King directs government to commit to timetables for implementing economic vision

Jordan

Published: 2023-03-05 10:28

Last Updated: 2024-03-29 08:41


King directs government to commit to timetables for implementing economic vision
King directs government to commit to timetables for implementing economic vision

His Majesty King Abdullah II Saturday attended part of the closing session of an interactive meeting held by the government at the Prime Ministry, to review progress in implementing the executive program of the Economic Modernisation Vision (EMV) 2023-2025.

King Abdullah commended the government’s efforts and stressed his keenness to follow up monthly on  implementation.

His Majesty directed the government to commit to the timetables for implementing the EMV, urging seriousness in ensuring the success of all three paths of modernization (political, economic and administrative).

The King called for releasing periodic reports to keep the public updated on the progress in implementing the EMV.

The King said progress in execution should not be affected by the change of officials, who will be evaluated based on their commitment to the implementation of the program.

Prime Minister Bisher Khasawneh gave a briefing on progress in the first executive program, which is the cornerstone for other programmes for implementing the overall targets of the EMV.

He noted that Saturday’s meeting covered progress of the first executive program in 10 sectors, including investment, industry and trade, tourism, digital economy and entrepreneurship, labor, health, education, water and irrigation, energy, and the environment.

Khasawneh reaffirmed that guarantees of the EMV’s implementation include the government’s commitment before His Majesty’s close follow-up, as well as the government’s commitment to hold regular meetings to enable its partners from various sectors to monitor progress.

The prime minister said Saturday’s sessions reiterated that the three modernisation tracks are interconnected, in addition to the important role of media as partners in oversight.

In addition, Khasawneh outlined some economic indicators, highlighting that despite challenging regional and international conditions last year, Jordan’s economy grew by 2.7 per cent, with national exports increasing by 36 per cent, while foreign direct investments increased by 97 per cent compared to 2021.

He added that tourism receipts increased by 115 percent, with a total of 1.4 million tourists, registering a 90 percent growth in the sector, a figure close to the base year of 2019.

Furthermore, foreign exchange reserves reached record numbers of USD 17 billion, covering Jordan’s imports for eight months, according to Khasawneh, who added that Jordan was able to contain the impact of inflation caused by the Ukrainian crisis by maintaining inflation rates at 4.8 percent, with nearly JD1 billion allocated for fuel subsidies and purchases of wheat and barley.

The prime minister said the finance and banking sector has witnessed healthy growth, with Jordan maintaining its credit rating and predictions for it by international agencies raised from stable to positive.