Deputy PM: “We must have flexible, resilient fiscal, monetary policy”

Dead Sea Deputy Prime Minister and Minister of State for Economic Affairs, Jafar Hassan, said Jordan must have a flexible and resilient fiscal and monetary policy, which requires a much smaller amount of indebtedness than current levels “so that we can stimulate the economy through fiscal and monetary policy, in connection with the economic cycle.” Hassan gave his remarks during a session at the Jordanian Economic Forum organized by the Lower House of Parliament’s Economic Committee in the Dead Sea area, with the participation of Governor of the Central Bank of Jordan, Ziad Fariz and Finance Minister Omar Malhas. The session, which was chaired by the house’s Economy and Investment Committee MP Khair Abu Saileik, dealt with general economic policies.

Hassan explained that the region is in a constant state of transformation “and we must adapt to that, and mustn’t wait until things around us are back to normal.” He noted that political priorities have largely governed economic and financial policies most of the past decade, especially during the Arab Spring, where there was considerable reliance on grants and borrowing, as it was an urgent transitory and necessary stage to protect the economy, “but we could no longer pursue this approach.” On the economic stimuli plan, the Deputy Prime Minister said the plan is worthy of implementation and is based on clear visions, indicating that it constitutes a project and an umbrella for the work and efforts of all institutions and is subject to continuous development.

Source: Jordan News Agency