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Ammon News - Prime Minister Dr. Bisher Khasawneh directed on Sunday the ministries and relevant authorities to take all necessary measures and procedures to deal with the potential inflationary effects on the Jordanian market and on the entire world, due to regional developments resulting from the ongoing Israeli aggression against the Gaza Strip, and the existing situation in the Red Sea.

During a Cabinet session held on Sunday, Khasawneh said that 15% of the volume of international trade passes through the Bab al-Mandab Strait, and due to the ongoing Israeli aggression in the Gaza Strip, there have been regional developments that have led to what some transport companies see as posing risks to their continued transit through the Strait.

According to international estimates, in addition to the estimates of the Ministry of Transport and the Ministry of Industry, Trade and Supply, Khasawneh added that the costs of transport trucks have risen steadily by approximately (160-170%) for trucks coming from Southeast Asia, and in many cases by (60-100%) for trucks and containers imported from North America and Europe, in addition to insurance fees for imported goods, which also rose.

He pointed out that if this situation continues, 'and we hope it does not continue,' it will cause an inflationary effect, because the commercial and industrial sectors work on the basis of legitimate profit, and therefore they will reflect costs with profit margins, and when there is an increase, it is expected that this will be reflected in the prices of goods and merchandise, 'because the merchant rightly does not perform a social function, but rather works on the basis of profit.'

Khasawneh also pointed out that the Jordanian Armed Forces - the Arab Army, as always, have committed to providing basic materials in the Military Consumer Establishment markets at their current prices, especially since we are approaching the blessed month of Ramadan after two months.