IMF, Jordanian businessmen discuss overcoming economic slowdown

AMMAN — The Jordanian Businessmen Association (JBA) and the International Monetary Fund’s (IMF) mission to Jordan on Sunday discussed the national economy’s top challenges.

According to a JBA press statement, JBA President Hamdi Tabbaa presented the main challenges, including the new income tax and its effect on investment, the budget deficit, unemployment and inflation, as well as the regional challenges.

Martin Cerisola, head of the mission, said that the IMF’s role is providing policy advice to decision makers to overcome the economic slowdown that has greatly impacted the Kingdom.

Cerisola recommended reconsidering high electricity costs which affect attracting investments, along with cutting government spending and reducing production costs, to support the industrial sector.

He also emphasised on implementing reforms harmoniously to include financial and structural reforms that empower the Jordanian economy.