Jordan’s classification as a low-income country is evidence of the futility of the economic policies of successive governments
Amman Today
publish date 2023-07-10 19:03:29
The Islamic Action Front party expressed its concern about the results of the report issued by the World Bank on the reality of the Jordanian economy, which included downgrading the income classification in Jordan from a medium-high-income country to a middle-low-income country.
In a statement issued by the party, a copy of which was received by Al-Bawsala, the party said that these results are evidence of the futility of the economic policies practiced by successive governments in advancing the reality of the Jordanian economy, which is heading towards further crisis and decline.
He pointed out that what was shown by the results of this indicator, which is calculated by dividing the gross domestic product by the number of the population, reflects the level of living reality for the citizen, as the downgrading of the classification indicates that the Jordanian citizen has become poorer as a result of the decline in production growth compared to the growth of the population, as the number of The poor in Jordan are about 3.980 million people (about 35% of the population), based on the data of the national poverty line for each country in the world, which is set per capita in Jordan at about 5.5 dinars per day.
The party stated that this reduction reflects the state of slowdown that the Jordanian economy is going through and its inability to operate as a result of the adopted economic policies and contractionary monetary policy by raising interest rates, weak investment as a result of bureaucracy and corruption, and the government’s focus on the collection approach by increasing tax revenues, which works to reduce demand. On goods and services, and thus reducing production and laying off workers, leading to recession, which is the meaning of slowing economic growth.
The party warned of the danger of the continuation of the current situation in the management of state affairs and resorting to relieving crises and relegating them instead of dealing with them. The Jordanian economy and stopping the crises it is going through, the cost of which is paid by the country and the citizen.
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Jordan News
Source : اخبار الاردن