UN Adviser: Jordan’s GDP Shows Resilience Despite Crises

Amman: Zafiris Tzannatos, United Nations Adviser in Jordan, highlighted the positive indicators of Jordan's Gross Domestic Product (GDP) despite the ongoing crises, positioning it favorably compared to other nations. In a session convened by the Senate's Finance and Economy Committee, chaired by Rajai Muasher, discussions were held on Thursday with Nisreen Barakat, Chief Executive Officer of the Jordan Strategy Forum, and the participation of the UN Counselor. The aim is to apprise both parties of the repercussions of the Israeli war on Gaza on the Jordanian economy. Tzannatos remarked that an assessment hinges on the dynamic nature of the situation, acknowledging that the initially projected short-term scenarios evolved as the war's duration extended. He emphasized that a swift analysis provides forecasts indicating the war's impact on the Jordanian economy and regional economies. He pointed out that expectations regarding the impact will manifest in metrics such as increased public debt, unemployment, po verty rates, the influence on Jordanian economic relations, and the recovery of economic sectors, including tourism, in the near future. Barakat detailed that the forum, established as a non-profit organization, conducted a study based on a questionnaire distributed to numerous private-sector companies. The study assessed the impact of the war on Gaza on economic sectors such as energy, tourism, and foreign trade. Ghassan Amout, the forum's Director of Research, presented an analytical review of the draft general budget law for the fiscal year 2024. He highlighted the budget's objective of stimulating economic activity and maintaining macroeconomic stability through sustained and positive growth rates in the real Gross Domestic Product. Amot emphasized the importance of improving resource allocation efficiency through effective public spending, ensuring the provision of basic goods and public services. Source: Jordan News Agency