Jordanian markets face weak purchasing power amid liquidity shortage

Economy

Published: 2023-07-25 18:46

Last Updated: 2024-04-15 13:24


Jordanian markets face weak purchasing power amid liquidity shortage
Jordanian markets face weak purchasing power amid liquidity shortage

Asaad Al-Qawasmi, a prominent member of the Amman Chamber of Commerce (ACC), expressed concerns Tuesday regarding the sluggish purchasing power in the markets since the beginning of the year.

The main cause behind this economic downturn, as stated by Al-Qawasmi, is insufficient liquidity among citizens.

In an exclusive interview with Roya, Qawasmi highlighted how the priorities of Jordanian citizens have shifted, with clearing obligations and debts taking precedence over discretionary spending. Consequently, this shift in priorities has led to a notable stagnation in the purchasing movement.

Various factors have contributed to this situation, according to Al-Qawasmi, including the recent heat wave, along with the ongoing "Tawjihi" exams, both of which have deterred potential buyers from engaging in market activities.

"The prices of goods are currently quite affordable and lower compared to previous years," assured Qawasmi, indicating that the issue primarily lies with the limited financial capacity of consumers.

Traders in the clothing sector have voiced their concerns about a sharp decline in sales, with some attributing the drop to Jordanian families being preoccupied with Tawjihi exams and others to the costs of celebrating Eid al-Adha earlier this month.

As the situation persists, business owners and policymakers alike are closely monitoring the economic landscape, hoping for a potential upswing in purchasing power and increased market activity in the near future.