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JBA president voices optimism over Jordan's economy
17/02/2019
President of the Jordanian Businessmen Association (JBA) Hamdi Al-Tabaa expressed optimism over improvement of investment, exports, competitiveness and economic growth indicators in the Kingdom during the coming period.

Al-Tabaa said in an interview with Petra that despite the difficult economic conditions and challenges experienced by the Jordanian economy, there are still positive expectations about the national economy, especially with the opening of the border with Iraq, the agreements signed, facilitating the rules of origin with the European Union as well as efforts to reduce the cost of generating power .

He added that the Jordanian economy was able to achieve stability in some economic indicators and the growth of some sectors, especially tourism and banking and the improvement in the performance of exports and a number of industries.

The JBA president said that the ability of the Central Bank of Jordan to maintain monetary stability is a fundamental pillar for any investor, whether at the international level or the Arab level, noting that the stability of the exchange rate of Dinar is a positive economic indicator. 

In spite of these good indicators, Al-Tabaa pointed to negative indicators represented in the rise of unemployment, the increase in the number of expatriate workers, and the rise of indebtedness and budget deficit, pointing out that these indicators are challenges facing the national economy.

"The Royal visits will contribute to opening prospects for both the public and private sectors to strengthen economic relations with their counterparts in the world, as they are highly appreciated by those countries when we follow them with our counterparts in the private sector" he added.

He stressed the need to discuss maximizing benefits from the re-opening of borders between Jordan and Iraq and activating the trade exchange movement as it was in the past, especially that the activity of the industrial sector has been significantly affected by the external challenges and regional conditions.