Experts Weigh in on Government’s Fiscal Strategies for Coming Year, 1st add

Qaryouti underlined that the budget's flexibility is constrained by various factors. Therefore, the Economic Modernization Vision and the Public Sector Modernization Roadmap were introduced to rectify spending inefficiencies and administrative shortcomings. These initiatives aim to activate tools that encourage growth and optimize returns, resulting in a notable increase in capital expenditures reflected in the budget outcomes. He advocated channeling this augmentation towards projects that bring additional value, fostering development and sustained progress. This direction should be sector-specific and geographically targeted to fulfill these objectives. The focus should be on projects falling within the government's responsibility to society, ensuring a satisfactory level of social welfare, he indicated. Moreover, he said that there should be space for the private sector to execute projects that optimize economic growth. The ultimate goal is for the private sector, equipped with capabilities, to receive ongoing support in overcoming challenges and establishing a genuine partnership with the public sector, yielding the desired and measurable outcomes, the expert added. Qaryouti emphasized that numerous opportunities exist to explore other markets, welcoming Jordanian economic sectors and their diverse commodities. It is essential to attract new markets to the Jordanian market, considering that the economic cycle is dynamic and subject to change. He explained that the world is characterized by volatility and various events, and the Jordanian economy has demonstrated its ability to adapt and address these challenges effectively. He further advocated the ongoing development of the local system to attain a satisfactory level of self-sufficiency. There is a need to maximize the involvement of local investment, empower it, and underscore the significance of engaging with local investors. The emphasis, he stressed, is on maximizing their business potential, supporting them during challenging times, and avoiding s ituations where they are left to grapple with financial, logistical, and bureaucratic challenges that could compromise their strength and stability. Source: Jordan News Agency