Economy

The IMF has forecast Jordan’s GDP to expand by 3.5% in 2014 and the government remains committed to tackling long term structural issues in the economy including reducing the fiscal deficit. The role of the private sector is being boosted, particularly with regard to government support for SMEs. Stronger economic ties with Iraq have led to proposals for a Basra-Aqaba pipeline and this, along with the completion of the Aqaba liquefied gas facility next year, is expected to help address the kingdom’s heavy reliance on energy imports. Jordan’s membership in the Greater Arab Free Trade Area offers local companies advantageous access to 17 markets across the Middle East and North Africa, while free trade agreements with countries further afield such as Singapore and Canada offer global opportunities.

This chapter contains interviews with Umayya Toukan, Minister of Finance; Ibrahim Saif, Minister of Planning and International Cooperation; and Awni Rushoud, Investment Commissioner, Investment Commission.