Finance minister highlights Gov't actions to improve economic indicators | Business | Ammon News

Finance minister highlights Gov't actions to improve economic indicators

[9/25/2019 9:29:46 AM]

AMMONNEWS - Finance Minister Ezzeddine Kanakrieh said actions taken by the government focused on stimulating growth, combating tax evasion and rationalizing current expenditures, in order to improve economic and financial indicators.

During a meeting with the Lower House's Finance Committee Tuesday evening, Kanakrieh said the government's actions to stimulate growth, including combating tax and customs evasion and those related to the real estate sector, all have reinforced tax revenues after a decline in some of its items in the past few months.

On capital expenditure, he noted that funds are allocated annually to capital projects as they have a positive impact on improving public services and stimulating economic growth. Also, projects that have not been initiated are reviewed annually for possible implementation in partnership with the private sector, he added.

The finance minister pointed out that the government, despite the decline in many tax revenues items this year, it didn't raise taxes, explaining that some indicators have a negative impact on one side, but the impact is positive on the economy on the other side, as the decline in imports contributed to the lack of revenue growth, but it had a positive impact on enhancing foreign exchange reserves and on the balance of trade.

He stressed the need to look at economic and financial indicators reflecting on the macroeconomic, pointing to the improvement of many indicators, including tourism income, national exports, foreign exchange reserves and economic growth in general.

On the ongoing talks with the International Monetary Fund (IMF), Kanakrieh said talks are positive and the IMF understands challenges facing the national economy and that there is a need to promote economic growth to improve economic and financial indicators along with maintaining financial and monetary stability and controlling the growth of indebtedness as a percentage of GDP.

In this regard, the finance minister indicated that the IMF third review of the Jordanian economy will be completed in November.

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