Raad Mahmoud Al-Tal

In economic policymaking, there is no shortage of data. Governments and experts constantly track numbers like GDP growth, inflation, unemployment, public debt, and budget deficits. But even with all these numbers, real progress often remains limited. Why? Because having the number is not enough—what really matters is how that number is used.

For example, knowing that unemployment is at 21% doesn’t solve anything by itself. It simply tells us there’s a problem. We need to ask deeper questions: What is causing this unemployment? Which groups are most affected? Is this a short-term issue, or something more serious? Good policy starts by understanding the problem behind the number and designing smart solutions to fix it.

Sometimes numbers can give a false sense of success. A country might have high economic growth, but if that growth comes from government borrowing and spending rather than from real improvements in productivity or exports, it may lead to future problems. Similarly, cutting the budget deficit by reducing investment in schools or infrastructure might look good in the short term, but it can hurt the economy later.

We need to look beyond the numbers. Two countries might have the same level of debt, but one uses its debt to build roads and power plants, while the other uses it to pay government salaries. The first is building for the future; the second is just getting by.

The real job of a policymaker is to turn data into action. Numbers help guide decisions, but they don’t make the decisions for us. What matters most is having the judgment and experience to turn numbers into realistic and effective policies that fit the country’s needs.

Economics uses math, but it’s not just about calculations. It’s about making smart choices with limited resources. The best policies are not the ones that just look good in reports—they are the ones that actually make people’s lives better.

The key message is this: Numbers are useful, but only if we know how to use them. Good policy is not about how much data we have, but how well we turn that data into real results.

Raad Mahmoud Al-Tal - Chair, Department of Economics – University of Jordan