Despite the difficulties.. Jordan has achieved huge economic achievements under the leadership of King Abdullah II
The world and the Arab region have witnessed a number of political and natural changes that have affected the economy, and major international economies have suffered from the effects of climate change, the coronavirus pandemic, as well as political and regional conflicts. In the midst of these crises and difficulties, Jordan succeeded under King Abdullah II in facing these challenges and achieving unprecedented successes and achievements.
Productive state
According to Jordan’s Petra News Agency, the king has paid special attention to various economic fields since assuming his constitutional duties nearly 23 years ago.
During his tenure, Jordan became a self-sufficient industrial productive state in many goods and services, and businessmen, under his guidance, became the country’s partners in this success.
Hamdi al-Tabbaa, president of the Businessmen Association, said: The country has made many achievements thanks to the wise leadership of the Hashemites and the King’s preservation of the legacy of the great Arab revolution in freedom, unity and a better life.
He continued: The King of Jordan has focused on development projects, which coincided with progress in the path of sustainable economic and social development, to explore new horizons for building the Jordanian state that improves the living standards of citizens.
Development of the digital economy and trade liberalization
According to an informed source in the Jordanian Cabinet, the king’s achievements include the introduction of the digital economy of the Hashemite Kingdom, supporting entrepreneurship and the establishment of the Economic Advisory Council, Jordan’s accession to the World Trade Organization, the computerization and development of education, the establishment of the Aqaba Special Economic Zone and the establishment of information technology centers.
King Abdullah has also worked to establish a development fund to reduce poverty and unemployment, strengthen the economic role of Jordanian ambassadors outside the kingdom in all political, economic and cultural fields, and launch the King Abdullah II project to provide housing for poor families in most provinces.
The major development in the field of economic development is one of the most prominent achievements of the Jordanian King, which moved the country to the stage of liberalizing trade and the wider market economy, increasing the volume of investment and industrial and technological development, signing several free trade agreements with a number of countries, increasing participatory policy formulation, achieving financial sustainability and strengthening institutions.
Excellent performance
During the reign of King Abdullah II, Jordan achieved impressive economic performance, with GDP rising by 6.5% and total exports of goods and services tripling in that period, bringing total exports from $1.8 billion in 1999 to $7.5 billion in 2017.
Foreign investment contributed 13% of GDP in 2003-2009.
Despite the global financial crisis of 2008-2009, Jordan succeeded in maintaining a positive GDP growth rate.
FDI in Jordan grew dramatically from $913 million in 1999 to $2 billion in 2017.
Total foreign reserves rose to unprecedented levels of $13.5 billion, compared to $2 billion in 1999, and total deposits rose from $10.6 billion to $47.7 billion.
