Jordan crisis: is it pure economic?


[29-04-2019 05:32 AM]

AMMONNEWS - By Ph.D Hussein Albanna - Since 1989 Jordan did not experience like this economic troubles. The annual budget deficit is around (USD 1.7 Billion), and the public debt reached (USD 41 Billion) which represents (94%) of its GDP, all of that led to salient stagflation last years.

The major sources of the budget deficit are: Trade halt with Syria and Iraq for many years after ISIS (Dae'sh) control over large area of the borders, the government expenditure burden on the public services as a result of receiving (1.5 Million) Syrian refugees, which maximize Jordan's efforts to meet their humanitarian responsibilities, reduction of crude price that directly influenced Jordanian expatriates' transfers rate from (Arab gulf ) side by side with "nationalization" of the jobs taken place there, and the difficulties of gas importation after "pipes attacks" in Egypt.

Year after year, it becomes harder to depart this economic extended " bottle neck ", in spite of governmental efforts to cut down expenditures, and taxation reform policy.

Today, there is an "in-depth debate" taken place here in Jordan, argues if the crisis is pure economic or has another political side? Many local voices started "loudly" figuring out other reasons of this economic dilemma, namely: corruption, mismanagement, transparency, and constitutional power structure.

Yet, Jordan has the capacity to solve its problems, and "by free!", this may be via more democracy, transparency, press freedom, and more constitutional empowerment of "elected" government and parliament. Middle East needs prosper and stable Jordan, for peace and mutual beneficial relations.




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