Jordan’s economy witnessing positive improvement: says IMF… 2nd add

Cerisola noted: “2019 is the year of implementation, the year to return to reduce the budget deficit,” adding the new Income Tax Law is applied effectively, and if the government continues to do so, it will pave the way to fight tax evasion, and this not only helps to slash the deficit and public debt , but also helps to spend on education and health, in a bid to increase citizens’ living standards.

Discussing the role of private sector, Cerisola said one of the most important challenges is the rise in the unemployment rate to high levels, noting the high unemployment is due to the decline in the level of economic growth and the high cost of employment in companies, especially small and medium, which requires the government’s efforts to reduce the cost and pay more attention to these firms to create jobs.

The focus on these issues (unemployment and labor market reform) is gradually achieved with an improvement in external conditions, including the increase of the level of Jordanian exports to Iraq and the Arab Gulf countries, he pointed out.

The continuation of reforms, which was agreed, will contribute to improving economic performance in 2019 and next year, also in the citizens’ living standards and conditions, he noted.

Commenting on the impact of the London conference on the Jordanian economy, Cerisola said the event was an important success in ensuring that international investors commit themselves to invest in Jordan and the IMF has played a key role to bring together donors to provide support for Jordan in 2019 and 2020, and to pledge to sustain the assistance in the future.

The conference witnessed the participation of the IMF Director General, Christine Lagarde, who played an important role in explaining the opportunities and procedures of the Jordanian government and its future plans to ensure the necessary assistance to the Kingdom.

Source: Jordan News Agency