Key Long-Term Development Issues in Jordan

Tayseer Abdel Jaber
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Tayseer Abdel Jaber: Jordan Development Center

No 9522, Working Papers from Economic Research Forum

Abstract: This paper deals with the key long-term issues in Jordan. It reviews concisely the past economic performance and notes that the Jordanian economy achieved high growth rates particularly during periods of regional stability and growth. However, economic imbalance in the Government budget, domestic saving and investment and the balance of payments led to an economic crisis in the second half of the 1980s. An economic adjustment program was adopted and put into implementation. While noting the limitations to economic growth in Jordan that arise from the scarcity of natural resources, particularly water, the paper deals with other long-term issues which can be to a large extent influenced by economic policies. Some of these issues are already experienced in Jordan, namely, poverty, unemployment and external indebtedness. Others are not yet clear including the economic impact of peace, the privatization process and access to regional and world markets. In order to tackle these problems and deal positively with long-term issues, Jordan needs to grow at higher rates than 6% annually and maintain sustainable development. Access to other markets, debt relief and economic assistance are needed to support Jordanian endeavors in this regard.

Date: 1995-05-10, Revised 1995-05-10
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