Cabinet Approves Agreement to Manage and Monitor Trucks in Aqaba Economic Zone - Jordan News
The Cabinet decision also includes coordination with the Ministry of Digital Economy and Entrepreneurship to ensure the system is compatible with existing digital government services and regulatory protocols.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Jordan News
5 hours ago
- Jordan News
Fuel Price Difference Set to Zero for August - Jordan News
Fuel Price Difference Set to Zero for August The Chairman of the Board of Commissioners at the Energy and Minerals Regulatory Commission, Eng. Ziyad Al-Saa'ideh, announced that the commission has decided, during its session held on Thursday morning, to set the Fuel Price Difference tariff on electricity bills for August 2025 at zero. اضافة اعلان Eng. Al-Saa'ideh added that this is the same rate that was applied for the current month of July.
Jordan News
3 days ago
- Jordan News
Jordan's Central Bank Governor Projects Over 4% Medium-Term Economic Growth - Jordan News
Governor of the Central Bank of Jordan, Dr. Adel Al-Sharkas, affirmed that the national economy continues to grow steadily despite regional geopolitical challenges, thanks to a comprehensive economic modernization vision that redefined Jordan's approach to reform. اضافة اعلان Speaking during a policy dialogue organized by the Jordan Strategy Forum titled "Reform, Stability, Resilience: The Economic Trinity in a Changing World", Al-Sharkas emphasized the transition from reactive, short-term policy approaches to a proactive and integrated strategy aimed at enhancing economic resilience and sustainability. Key Highlights: Growth Outlook: The Central Bank estimates real GDP growth at 2.7% for 2025, with projections exceeding 4% by 2028, driven by large-scale infrastructure projects tied to the Economic Modernization Vision. Macroeconomic Resilience: Jordan's economy is backed by a robust monetary and fiscal framework, institutional strength, and a sound banking sector. These fundamentals have garnered growing international investor confidence, reflected in the declining yields of Jordan's Eurobonds in secondary markets. Growth Performance (2021–2024): The average growth rate stood at 2.9%, the highest since 2010, attributed to improvements in productivity, technological adoption, and human capital development. Investment contributed 40% to this growth, while the external sector accounted for 38%. Export & Energy Performance: National exports reached new markets, with non-traditional exports contributing 20.9% of GDP in 2024, up from 16.2% in 2016. Meanwhile, energy import costs dropped to 7% of GDP, down from a third in 2012, due to diversified energy sources and long-term gas agreements. Tourism and FDI: Despite a slight dip in June due to regional tensions, tourism revenues rose 11.9% in H1 2025, reaching $3.7 billion, with expectations to hit $7.7 billion by year's end. FDI inflows amounted to $1.6 billion (3.1% of GDP) in 2024, and remittances from Jordanians abroad rose to $3.6 billion, projected to reach $3.7 billion in 2025. Monetary Stability: Inflation was kept around 2% in H1 2025. The Jordanian dinar remains strong, supported by $22 billion in foreign reserves, covering 8.4 months of imports. The banking sector continues to expand credit facilities, with loans rising to JOD 35.3 billion in May 2025 and total deposits hitting JOD 47.7 billion. Financial Inclusion & Digital Payments: The Central Bank increased financial inclusion to 43.1% by 2022 and aims for 65% by 2028, while closing the gender gap from 53% to 22%. Digital transactions grew significantly, with over 537 million transactions totaling JOD 55.3 billion in 2024—equivalent to 146% of GDP. Fiscal Outlook: The government aims to reduce the primary deficit to 2% of GDP by 2025, targeting a primary surplus by 2027. The public debt-to-GDP ratio is expected to fall below 80% by 2028. Forward-Looking Plans: Preparations are underway for the 2026–2029 Executive Program of the Economic Modernization Vision, with new initiatives focusing on digitization, fintech, innovation, and expanded financial inclusion. Sectoral Collaboration & Private Dialogue Jordan Strategy Forum Chair Sharif Fares Sharaf emphasized the need for resilient policies amid global instability, while Executive Director Nisreen Barakat reaffirmed the Forum's role in facilitating evidence-based policy discussions. The session also featured input from Nadia Al-Saeed, who stressed the importance of regulatory clarity and effective banking oversight. Topics discussed included virtual asset legislation, SME support, and public-private partnerships in navigating economic uncertainties. Governor Al-Sharkas concluded with a direct Q&A session, addressing key economic concerns raised by forum participants and reaffirming the Central Bank's commitment to sustainable and inclusive growth.
Jordan News
4 days ago
- Jordan News
Proceeds from Special Vehicle Plate Sales Allocated to University Student Fund - Jordan News
Proceeds from Special Vehicle Plate Sales Allocated to University Student Fund The Council of Ministers has decided to allocate all proceeds from the sale of special vehicle plate numbers, regardless of their code, sold via auction by the Driver and Vehicle Licensing Department, to support the University Student Fund starting from the upcoming academic semester. اضافة اعلان This is in addition to the amount already designated for the fund in the state budget, which the government increased by 50% this year to reach 30 million Jordanian dinars. The decision was made during a Cabinet session held on Saturday, chaired by Prime Minister Dr. Jaafar Hassan, during which amendments were also approved to the vehicle plate system. — (Petra)
