Region's crises will not be solved through taxes

20-10-2019 06:28 AM

Ammon News - AMMONNEWS - Tackling the effects of regional crises that negatively affect the Jordanian economy cannot be solved at the expense of the Jordanian citizen and there is no alternative to stimulating the economy to grow and jobs to meet these challenges, Minister of Planning and International Cooperation and Minister of State for Economic Affairs, Mohammad Al-Issis said.

During the annual meetings of the World Bank (WB), during which the minister participated as a keynote speaker in a high-level dialogue with the President of the World Bank Group David Malpass, Al-Issis said the best way to reduce poverty and achieve economic growth is to jobs for youth, as Jordan has maintained growth rates at 2 percent, despite the crises and challenges it has faced during the past decade due to regional instability.

The minister also called on the WB, the International Monetary Fund (IMF) and the international financial institutions to focus on growth and job creation and to avoid tax solutions to address the economic imbalances arising mainly from the slowdown of the economy, stressing the importance of finding balanced solutions to reduce the fiscal deficit and provide opportunities for the economy to grow.

In this context, he also called on creating a balance between financial stability and economic growth to ensure Jordanian youth have access to jobs and hope for a promising future.

On the other hand, the minister participated in a panel discussion within the activities of the Middle East and North Africa Day during the annual WB meetings currently held in Washington, as a keynote speaker along with the Egyptian Minister of Investment and International Cooperation Sahar Nasr and a number of senior WB economic advisors, where they discussed the new package of reforms in the MENA region focused on competition, growth and jobs.

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