Jordan News

Minister of State for Investment Affairs and former Minister of Labor, Dr. Maan Al-Qattamin, in response to former Minister Dr. Youssef Mansour, in their public debate on the “Pulse Al-Balad” program on “Roya” screen, this evening, Sunday, that Jordan added $12 billion to its debt during four years.

Al-Qattamin saw that the Jordanian economy is on the way to collapse, if the government continues to prepare its budgets in this way for the next ten years.

He added that Lebanon’s economic problem lies in the fact that the public debt was greater than the size of the economy.

For his part, the former Minister of Investment, Youssef Mansour, confirmed that it has nothing to do with the description that the Minister of Labor and former Minister of State for Investment Affairs, Dr. Maan Al-Qattamin, said that the Jordanian economy is on its way to a state similar to the Lebanese economy and its collapse.

Mansour added in the public debate, that we have nothing to do with the experience of Lebanon; Given the size of the debt, indicating that the size of Lebanon’s debt of the GDP is 158%, and Lebanon depends on its economy on four basic things.

He added that Lebanon depends in its economy first on Gulf support, Western support, tourism and remittances from expatriates, and therefore there are no longer huge amounts of dollars in the market and Lebanese banks.

Mansour pointed out that the Lebanese banks, in order to obtain the dollar, sought to motivate people through financial benefits, explaining that the financial engineering of the Central Bank of Lebanon was wrong, and it destroyed the economy.

He pointed out that the assets of the Central Bank of Jordan today amount to 60 billion dinars, and we have facilities worth 30 billion, and therefore the assets of the Central Bank are sufficient for nine months of imports, in addition to the efficiency of Jordanian capital.

Mansour added that the Jordanian banking sector is completely different from the Lebanese banking sector, stressing that Jordan is a country that does not depend on tourism for its economy, nor does it depend on remittances from expatriates, and this is a different scene from the state of the Lebanese economy.

He pointed out that the value of Jordan’s exports from the mining sector last year amounted to two and a half billion dinars.