Jordan’s ability to rein in inflation ‘a source of pride’ — PM

Jordan’s ability to rein in inflation ‘a source of pride’ — PM

Prime Minister Bisher Khasawneh said that despite major economic challenges, Jordan's inflation rate remained within the 4 per cent range, far below that of European states or the US.

In an interview with Jordan Television’s "60 Minutes", broadcast on Friday, the prime minister said that the Kingdom’s ability to keep inflation under manageable rates, similar to those seen in rich countries, is “a source of pride", the Jordan News Agency, Petra, reported.

The premier said that the Kingdom has a comprehensive reform and modernisation project for the Jordanian state, which aims to improve many areas as well as the general quality of life. There are signs that the national economy has started to recover, such as Jordan’s 43 per cent increase in exports compared to last year, he said.

The tourism sector's revenue "exceeded expectations of the JD2.9 billion target", he said, noting that the sector is on the verge of achieving the baseline 2019 figure.

Foreign capital is “pouring” into the Kingdom, Khasawneh said, citing major Emirati projects in Aqaba and a hospital-medical university project being conducted in collaboration with the Saudi Public Investment Fund Company.

The prime minister disclosed that an Arab sovereign fund is “seriously” considering the construction of a railway line