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Ammon News - AMMONNEWS - Prime Minister Hani Mulki on Friday said that the current economic situation in Jordan is the not the hardest in the Kingdom’s history, noting the 1989 economic crisis.

Addressing Jordanians through 60 Minutes program, Mulki said the current economic hardships are not a major source of concern, adding that all countries suffer economic hardships, which need to be addressed.

Despite the huge challenges facing the Kingdom, such as the Arab spring, the Syrian refugee crisis and border closure, the Jordanian economy is still strong, the prime minister said, adding that this does not mean not pursuing higher economic growth rates, and not fighting tax evasion, favourtism and corruption.

"The Jordanian dinar is strong," Mulki said, adding that the Kingdom’s reserves stand at JD12.386 billion, as well as gold reserves of up to JD1 billion, which can cover the Kingdom’s imports for 7 months.

The prime minister spoke in details about the Kingdom’s budget and the deficit, as well as means to address it. In this regard, the premier affirmed that His Majesty King Abdullah II asked the government to protect the low- and medium-income segments from any measures and price raises.

Mulki also spoke about austerity measures that will be taken by his government to cut spending. The government, he added, will set a maximum and minimum salary and wage limits. In this context, the prime minister affirmed that the government measures come within the reform efforts.

As for the unemployment and poverty challenge, the prime minister said that his government will focus on entrepreneurship rather than employment. Mulki affirmed that Jordanian youth should start their own business and work in the private sector, because the public sector is no more able to provide jobs for all citizens.

"The government has allocated JD25 million in 2016 for self-employment project, where every five persons could borrow up to JD20,000 to start a project like a pharmacy or a clinic, etc. The campaign was a success outside Amman and this year JD80 million were allocated to help innovative youth start their own business," Mulki said.

The prime minister noted the GCC grant, which helped the Kingdom implement infrastructure and developmental projects. Jordan, he added, would negotiate renewing the grant, which will be completed next year.

On the political level, Mulki spoke about the upcoming Arab summit, which will be held in Jordan. The prime minister added that the Jordanian diplomacy, under the leadership of His Majesty King Abdullah II, will exert efforts to bridge the gaps between Arab countries.