Oman – Compass

An economic researcher specializing in oil and energy affairs, Amer Al-Shobaki, confirmed that the government made a mistake in raising the price of gasoline at the beginning of the new year. He called on the economic policy maker to admit the mistake and reverse this trend in the collection.

Al-Shobaki said that the Jordanian government, at the beginning of the current year 2022, raised the price of gasoline of two and a half piasters per liter, bringing the price of gasoline 90 to 17 dinars per tank, which is the second highest price in the history of the Kingdom, and the price of gasoline 95 reached 21.7, which is the highest price in the history of the Kingdom ever. The government was not justified in raising the prices and is not commensurate with the average monthly global gasoline prices and the prescribed taxes within the equation in which the Oil Derivatives Pricing Committee works.

He stressed that raising gasoline prices has a negative impact on the Jordanian economy and the purchasing power of the citizen and the family, and with oil prices expected between 60-80 dollars this year, this means the continuation of the prices of derivatives locally at high levels this year in the presence of the large taxes imposed locally, these taxes must be removed Because it did not achieve the goals and had counterproductive results, these taxes were gradually imposed since 2011 within the economic reform program. The goal of the economic reform program was to increase economic growth, reduce the budget deficit, reduce public debt in relation to GDP, reduce unemployment rates and achieve social welfare. The results were counterproductive and did not Something can be achieved from it. The debt has risen from 15 billion dollars in 2011 to 48 billion recently, and the public debt has doubled to 110% of GDP.

Al-Shobaki concluded by saying: “Therefore, the economic policy maker must admit the mistake and reverse this trend in the collection, which will also affect the desired political reform, whose success depends on the middle class and the welfare of the people.”

(compass)