‘Removing subsidy deformities heralds new economic era’ | Business | Ammon News


‘Removing subsidy deformities heralds new economic era’


[10/19/2017 3:58:32 PM]

AMMONNEWS - Minister of State for Media Affairs and Government Spokesperson Mohammad Momani has said that the ongoing dialogue over subsidies heralds a new economic era where support goes to the individual not the commodity.

Momani added that the government has been able to freeze the public debt ratio to GDP at 95 per cent and, despite local economic challenges and the regional situation, the government is working on reducing the public debt and fully bridging the budget deficit through sound economic policymaking and corrective measures.

Momani, who was speaking on a Jordan TV morning show on Thursday, said the shift in support from the commodity to the citizen will be institutionalised through embedding the financial subsidy into the state budget law as of next year.

In response to a question on the bread subsidy, Momani noted that a total of JD140 million goes to subsidise bread, underlining the fact that there are millions of non-Jordanians living in the country who benefit from the government’s support of the commodity.

There is also the waste and smuggling of bread to neighbouring countries, benefiting from the price difference.

Momani pointed out that there is a number of specialised governmental units that are constantly following the government plans and the progress made therein.

The minister added that the government takes into consideration all comments and findings of studies issued by independent and civil institutions on the economic situation.

*JT

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