Jordan economy groans under the weight of refugee crisis

Home Jordan News Jordan economy groans under the weight of refugee crisis 19-10-2018 04:41 PM Ammon News - AMMONNEWS - Jordan faces “a severe debt crisis due to low economic growth as a result of closed borders, reduced international assistance and low economic productivity”, states Dr Mary Kawar, Jordan’s minister of planning and international cooperation. Debt is 95 per cent of GDP. Unemployment was 18.7 per cent during the last quarter; youth unemployment has reached 35 per cent. “We used to have five-year plans. Now we have medium-term, two-year plans due to so many crises [in the region],” says Kawar. After the 2011 Arab Spring, Egypt stopped the supply of cheap natural gas, making energy costs for manufacturing and households extremely high, she says. “We are the second most water-poor country in the world so can you imagine [the crisis] if you add 1.3 million people.” Jordan needs to increase exports and investment but cannot compete with goods manufactured in Gulf countries or export to Europe. *Irish Times

Home Jordan News

Jordan economy groans under the weight of refugee crisis

19-10-2018 04:41 PM

Ammon News - AMMONNEWS - Jordan faces “a severe debt crisis due to low economic growth as a result of closed borders, reduced international assistance and low economic productivity”, states Dr Mary Kawar, Jordan’s minister of planning and international cooperation.

Debt is 95 per cent of GDP. Unemployment was 18.7 per cent during the last quarter; youth unemployment has reached 35 per cent. “We used to have five-year plans. Now we have medium-term, two-year plans due to so many crises [in the region],” says Kawar.

After the 2011 Arab Spring, Egypt stopped the supply of cheap natural gas, making energy costs for manufacturing and households extremely high, she says. “We are the second most water-poor country in the world so can you imagine [the crisis] if you add 1.3 million people.”

Jordan needs to increase exports and investment but cannot compete with goods manufactured in Gulf countries or export to Europe.

*Irish Times

no comments

Notice

All comments are reviewed and posted only if approved.
Ammon News reserves the right to delete any comment at any time, and for any reason, and will not publish any comment containing offense or deviating from the subject at hand, or to include the names of any personalities or to stir up sectarian, sectarian or racial strife, hoping to adhere to a high level of the comments as they express The extent of the progress and culture of Ammon News' visitors, noting that the comments are expressed only by the owners.

name : *
email
	show email
comment : *
Verification code :	Refresh write code :