Dependent on imports and grappling with regional instability and major supply disruptions, Jordan’s energy sector has faced several challenging years....
Jordan Energy
As ongoing volatility continues to hamper growth in the region, Jordan has made significant progress in preserving macroeconomic stability and reducing its fiscal deficit in the past few years. Efforts to the fulfill the stipulations of a $723m extended fund facility agreement with the IMF continue, and the government may need to pursue more widespread reforms to increase income tax revenues and limit tax avoidance so as to sustain recent momentum.
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As ongoing volatility continues to hamper growth in the region, Jordan has made significant progress in preserving macroeconomic stability and reducing its fiscal deficit in the past few years. Efforts to the fulfill the stipulations of a $723m extended fund facility agreement with the IMF continue, and the government may need to pursue more widespread reforms to increase income tax revenues and limit tax avoidance so as to sustain recent momentum.
Despite high levels of government debt and the costs associated with hosting hundreds of thousands of refugees, Jordan’s economy has continued to demonstrate remarkable resilience in the face of ongoing regional instability. A raft of far-reaching reforms introduced in 2016, along with newly brokered international agreements, should help the kingdom continue along its slow but steady growth path in the years ahead.
Though it lacks the petroleum resources of many of its Arab neighbours, Jordan’s limited hydrocarbons have helped its energy industry become one of the most progressive and dynamic in the region. Development of renewable and nuclear energy is set to significantly boost domestic capacity and reduce the kingdom’s fuel bill in the coming years. The emphasis on renewables should help Jordan...
As Jordan has historically imported the majority of its energy needs, the drop in global oil prices between mid-2014 and early 2015 will have a positive impact on the kingdom’s near term energy bills and on its trade deficit. However, the kingdom is also set to diversify its energy sources moving forward. As part of its National Energy Plan, Jordan hopes to see 29% of total energy needs met by...
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...
In 2014 Jordan’s population reached 6.64m, as regional turbulence saw an influx of refugees from neighbouring countries. Jordan, however, remains stable as it pushes ahead with the political reforms announced in 2011. The economy continues to revive following the global economic downturn, while government commitments to tackle structural issues in the economy bode well for future growth.