Reply To:
Name - Reply Comment
Last Updated : 2024-03-29 15:14:00
Chris Jarvis
WASHINGTON (AFP) - Jordanian officials reached an agreement with the International Monetary Fund on a US$ 1.3 billion, four-year aid program to help authorities stabilize the economy, the IMF announced Thursday.
The loan, which must be approved by the board of the Washington-based crisis lender, will help the government bring down public debt and spending gradually while supporting economic growth, as the country hosts an influx of Syrian refugees, the IMF said in a statement. The aid programme “will reinforce the authorities’ ambitious macroeconomic and structural reform agenda for the next four years,” IMF mission chief Chris Jarvis said.
The government programme is focused on “enhancing the conditions for more inclusive economic growth, particularly in light of the challenges posed by ongoing regional conflict and uncertainty,” he said.
That includes steps to reduce tax evasion and improve the investment climate, while boosting growth. Among the key reforms the government will reduce electricity prices for businesses and shift household subsidies to benefit “only to those who need it,” Jarvis said. “In addition, the authorities will introduce measures to help young people and women enter the labor force.”
GDP growth is projected to reach 2.1 percent in 2020 and increase gradually in the coming years to 3.3 percent. Inflation will remain subdued in 2020, at under 1 percent, but is expected to rise 2.5 percent over the next few years, he said.
Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.
Reply To:
Name - Reply Comment
Though the Government imposed VAT (Value Added Tax) on vegetables and other e
Saving energy has become more of a responsibility than a habit in today’s c
In the coming days, Muslims across the world will welcome the Holy Month of R
As of February 2024, Sri Lanka lost another 38 elephants as a result of the H
28 Mar 2024