PM highlights “2019 Government’s Work Report”….2nd add

Regarding agricultural indicators, the prime minister said the Kingdom’s livestock exports (live sheep) shot up by 100 percent while agro produce exports inched up by 4.6 percent, pointing out that in 2020 there will be projects that will contribute to…

Regarding agricultural indicators, the prime minister said the Kingdom's livestock exports (live sheep) shot up by 100 percent while agro produce exports inched up by 4.6 percent, pointing out that in 2020 there will be projects that will contribute to agricultural industrialization and the employment of youth in this sector.

On monetary indicators as reported by the central bank, Razzaz said inflation edged up by a slight 0.3 percent compared with 4.5 percent in 2018, while remittances by Jordanian expatriates rose by 1.4 percent during the first 11 months of 2019.

He further noted a 2.9 percent decrease in the country's current account deficit in 2019.

"Our foreign currency reserves reached JD14.2 billion, sufficient for covering our imports of goods and services for about 8 months," the prime minister said, adding deposits with local banks increased by 3.8 percent to a total of JD35.1 billion, 96.7 percent of these deposits in Jordanian dinar.

Another indicator of recovery is a 3.9 percent rise in facilities provided by banks reaching a total of JD27.1 billion, of which JD24 billion were provided to the private sector.

According to central bank figures, the growth rate in the private sector stood at 4.4 percent.

In this regard, the prime minister thanked the Central Bank of Jordan for pursuing prudent and stable policies over the years so that the Kingdom could overcome challenges, pointing out that "these are very promising figures, and we will strive to improve them in the next stage."

As for the most positive global indicators, according to the Doing Business 2020 report, Jordan has been listed, for the first time since the report's launch, among the three best reformers in the world, with the Kingdom ranking 75th in 2020 compared to 104 in the 2019 report.

Further, the Kingdom was ranked in the same report fourth on the "Getting Growth" indicator, revealing a major improvement from the 134th rank in last year's edition of the report, Razzaz noted.

In the Global Competitiveness Report 2019/2020, Jordan ranked 70th, 3 places higher than last year according to the classification of the World Economic Forum 2019/2020. Jordan also achieved the best improvement in the financial system, as it ranked 33rd on this index.

In the global entrepreneurship index, Jordan ranked 49th in 2018 compared to 56th in 2017.

Source: Jordan News Agency