Ammon News - Minister of Finance, Mohamad Al-Ississ, said Jordan is taking "serious" steps to stimulate investment, facilitate the investor transactions and maintain the legislative stability of the investment environment.

In remarks on the sidelines of his participation in World Economic Forum 2022 Davos, he noted Jordan's delegation participating in the forum, headed by Prime Minister, places the investment file on the top of its priorities by talking with a large number of international investors.

The current situation in which the world is witnessing instability represents a "serious" opportunity to Jordan to attract investments that pursue financial and monetary stability, he noted.

In addition, he said Jordan's financial stability in light of a global situation in which financial and monetary stability is absent constitutes a "true" opportunity for investments looking for a "good" equation between profit and global economic challenges.

The government, he said, presented a budget that maintains and raises capital spending to stimulate investment activity in the Kingdom while maintaining the government's commitment to keep taxes unchanged.

He noted economic challenge is global, adding that Jordan's economy is part of this process.

Stagnation and inflation that the world is witnessing is an opportunity to Jordan, as the Kingdom is one of the few countries in the world to maintain monetary stability, according to testament of major international institutions and houses of financial expertise, he said.

In this regard, he announced the government has allocated JD1.6 billion as capital spending, and will work to reduce the primary deficit from 3.4%, as estimated in 2022, to reach 2.9% in 2023.

Public debt, he said, will also be reduced as a percentage of GDP for the third year in a row, despite the government’s commitment to keep taxes unchanged due to the policy adopted by the government to fight tax evasion to achieve tax justice for citizens and stay away from consumer taxes.