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A few years ago, Ghana’s economy was one of the fastest growing in the world, with GDP growth rates stretching above 14%. But there has been a noticeable change from the unconstrained optimism of recent years. Ghana has missed fiscal deficit targets that, if lower than five years ago, are nonetheless creeping upwards, and the country is beset by rising inflation and a weak currency. As a result, in August 2014, after half a decade of impressive growth, the government entered negotiations with the IMF for fiscal relief. While Ghana is in a difficult position at the moment, its problems are seen as manageable, and the expectation is that the proposed IMF assistance package will help improve the country’s competitiveness on the global market without any undue disruptions.

This chapter contains interviews with Mona Helen K Quartey, Deputy Minister of Finance; Mawuena Trebarh, CEO, Ghana Investment Promotion Centre (GIPC); and Donald Kaberuka, President, African Development Bank.

Industry is one of the mainstays of the Jordanian economy with the sector producing roughly one fifth of the country’s GDP and employing around one tenth of Jordanians. The success of Jordan’s current strategy to build higher-value-added industries is reflected in the pharmaceutical sector, which has leveraged both the high standard of human resources in the country and the availability of local feedstocks to establish Jordan as a regional leader in the field. The retail sector has undergone a change in recent years with the arrival of global-quality shopping malls. However the pattern of shopping in outdoor markets or in family-owned mixed retail shops has remained largely unchanged, with Jordan’s top five organised retail brands accounting for just 5% of the market. In e-commerce, Jordan has jumped ahead thanks to the kingdom’s advantage in educated human capital, and the market looks set to be worth more than $2bn by 2016. This chapter contains an interview with Hatem Al Halawani, Minister of Trade and Industry.

The construction sector saw renewed growth in 2013 with forecasts for continued expansion in 2014. Loans extended in 2013 reached $5.76bn, accounting for 21.5% of credit to all industries. While housing accounted for the bulk of construction activity, several major real estate and tourism development projects are driving opportunities for large contractors, particularly in the Red Sea port of Aqaba. Meanwhile in the capital, Amman, the downtown area of Abdali has been the focus of major redevelopment projects, including commercial space, retail facilities and residential units at a total investment cost of $5bn. This chapter contains an interview with Taha Al Zboun, CEO, Dead Sea Development Zone.

Jordan’s transport sector remains a major source of employment, currently providing jobs for approximately 10% of the county’s workforce. While the volatility of energy supplies, particularly natural gas from Egypt since 2011, continues to pose a challenge to the sector, plans for a new national rail network, including a line connecting Iraq with the Port of Aqaba, hope to address this. Moreover, the national railway project will allow Jordan to remain competitive in Iraqi transport markets while also boosting tourism to the kingdom. King Hussein International Airport in Aqaba recently unveiled a new arrivals wing which, along with the port complex, is part of a wider tourism push that is driving local economic activity. This chapter contains an interview with Kjeld Binger, CEO, Airport International Group.

Population increases and a growing economy look set to intensify demand on energy resources in Jordan over the coming years. In response, the government has put in place an energy plan that will focus on maximising the use of domestic resources, particularly oil shale; encouraging energy conservation and awareness; generating electricity from nuclear energy; and promoting the development of renewable energy projects. While driving diversification and the development of domestic energy sources, the plan will also reduce the kingdom’s reliance on energy imports, which stood at 97% of energy needs in 2011, and allow Jordan to stabilise prices and supply streams in times of regional turbulence. This chapter contains an interview with Mohammad Hamed, Minister of Energy and Mineral Resources.