Economy

As the economy faces short-term challenges of low growth and a tight fiscal position, preparation is under way to support long-term recovery and lay foundations for the encouragement of investment as new sectors open up, notably in infrastructure and energy. Jordan faces several short-term challenges it must overcome to lay the foundations for when growth is expected to pick up from 2013. It must secure cheaper energy through an agreement with Egypt for regular supplies of gas and must reform subsidies to reduce non-productive expenditure and instead boost spending on education and infrastructure. If 2012 looks to be a year for scoping out investment opportunities and laying foundations for the future, 2013 should see the start of several new large-scale development projects and a return to stronger economic growth. This chapter includes interviews with Awni Al Rushoud, Acting CEO of the Jordan Investment Board; Maen Nsour, Director-General of the Social Security Corporation; and Umayya Toukan, Minister of Finance.