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Jordan- King receives government 2017 key achievements report
(MENAFN- Jordan News Agency)
For newspapers only....
Amman, Feb.4 (Petra) -- His Majesty King Abdullah II received a report from Prime Minister Hani Mulki summarizing the government's key achievements in 2017.
The detailed report has eight sections on economic reform, human resources development, employment and labour, administrative reform, public sector development and combating corruption, political reform, improving the judiciary, protection and social development and the general services sector.
Following is the full report of the government's key achievements in 2017:
The GoJ has been guided by the set of priorities outlined in the Letter of Designations addressed to the Government and your Majesty's direction in several circumstances, with a special focus on the following key themes:
Pursuing economic reform programs to generate jobs, maintain financial and fiscal stability, lower budget deficit, and the debt-to-GDP ratio, increase growth rates and achieve economic resilience and sustainable growth.
Advancing human resources by ensuring integration between the recommendations of the National Human Resources Committee, and the National Employment Strategy.
Continue improving the ease of doing business, as well as supporting small and medium enterprises and entrepreneurs.
Continuously work to raise the standards of services provided to citizens and improve the performance of the public sector.
Continue bolstering the rule of law and protecting the values of justice.
The GoJ 2017 Second Achievement Report is comprised of key achievements classified according to: economic, fiscal, national human resource development strategy (HRD), Legislative reforms, public sector reform, digital economy and with more emphasis on social aspects, mainly the safety net and health care. It further highlights the underlying policy and legislative interventions, which have been undertaken to realize sustainable economic growth (stimulus package).
The Government was able to achieve the following progress in the fiscal and monetary indicators as well as in some selected macroeconomic indicators, which were as follows:
Key Financial Indicators for 2017:
(15) Percent decrease in the budget deficit compared to 2016.
(4.4) Percent increase in public debt balance; the lowest increase ratio in public debt in a decade (Public debt comprised 95.3 percent of GDP in 2017).
(7.7) percent increase in domestic revenues.
Improving financial Self-reliance ratio - local revenues' coverage of current expenditure – amounted to (95) percent in 2017 compared with (90) percent in 2016.
On the contrary, Grants witnessed a decline of (15) percent.
The total amount of foreign aid contracted to Jordan in 2017 amounted to USD 3.65 billion, which includes regular grants, soft loans and additional grants to finance the Jordan Response Plan for the Syrian Crisis.
GCC Grants: The amount withdrawn from the grants during the period (2012- 27/12/2017) amounted to JOD (1,953) billion, representing (74%) of the total grants of JOD (2.633) billion.
Economic performance was modest: Real Gross Domestic Product (GDP) grew by (2) percent during the first three quarters of 2017.
On the other hand, some sectors showed improvement, including:
Tourism income increased by (12.5) percent during 2017.
FDI increased by (19.1) percent during the first three quarters of 2017.
Credit facilities grew by (8.4) percent at the end of November of 2017.
Foreign currency reserves stood at USD (12.3) billion at the end of December 2017.
Remittances of Jordanian expatriates amounted to JOD (2.4) billion during the first 11 months of 2017.
National exports increased by (1.5%), while imports increased by (5.4%). The trade deficit increased by (9.7%) as a result during first 11 months of 2017.
The prime challenge remains an unemployment rate in the double digits, coming in at (18.5 percent) during the first three quarters of 2017, in addition to low level of economic participation, especially among women.
The Government has embraced 'Self-Reliance' as a goal, not a slogan. To that end, the Government focused on achieving and implementing the following themes:
Formulating the general framework of the National Financial and Economic Reform Program for the years (2018-2020), through a clear, participatory and institutional approach. This framework serves as a passing document for all Governments (Government's economic agenda), classified as per the following key tracks:
Track one: Fiscal Reform: Re-structuring the tax system, including removing almost all economically inefficient exemptions of GST to finally achieving fiscal and monetary stability.
Track two: Revitalize The Economy: Adopting the detailed action plans of JEGP; focusing on promoting partnership with the private sector (PPP), especially in investment opportunity projects; and implementing a set of legislations that stimulate economic growth. In addition to that, the Government has adopted a number of initiatives, aimed at encouraging entrepreneurship and supporting small and medium enterprises through additional financing tools in cooperation with the Central Bank of Jordan. Updating the Executive Development Program for the years (2016-2020), and updating the Jordan Response Plan for the Syrian crisis, for the years (2018-2020) has already started and the detailed action plans of the Jordan Economic Growth Plan for the years (2018-2022) has been developed.
Track three: Institutionalizing of Social Safety Net: The GoJ has formed a ministerial committee to manage and upgrade the social safety net, in order to protect the underprivileged and middle class and to identify those eligible to receive Government financial support.
Parallel track: Adopting New Communication Strategy:
Implementing (30) outreach programs with various economic-related stakeholders, including the National Assembly members and Parliamentary blocks, the Economic Policy Council, Civil Society institutions' representatives and private sector investors, including entrepreneurs.
Increasing the Government's presence on social networking platforms. This was initiated in October 2017 (The Prime Ministry's accounts on Twitter Facebook). The number of the Prime Ministry pages' followers on social media networks increased by (675) percent.
Strengthening Economic Resilience through:
Food Security: Securing the Kingdom's strategic stock of wheat to cover 12.2 months in 2017, compared to 11.2 months in 2016, and barley stocks to cover 11 months for 2017, compared to 8.9 months in 2016. In addition to expanding the Aqaba and Jweideh silos' capacities to accommodate an additional 750,000 tons, of which a storage capacity of 320,000 tons is under-construction. In addition to adopting effective trade policies, facilitating the flow of goods and services, as well as the re-opening of some export routes (Iraq), and exploring potential additional export markets (African Countries).
More to follow....
4/2/2018 - 01:31:01 PM
For newspapers only....
Amman, Feb.4 (Petra) -- His Majesty King Abdullah II received a report from Prime Minister Hani Mulki summarizing the government's key achievements in 2017.
The detailed report has eight sections on economic reform, human resources development, employment and labour, administrative reform, public sector development and combating corruption, political reform, improving the judiciary, protection and social development and the general services sector.
Following is the full report of the government's key achievements in 2017:
The GoJ has been guided by the set of priorities outlined in the Letter of Designations addressed to the Government and your Majesty's direction in several circumstances, with a special focus on the following key themes:
Pursuing economic reform programs to generate jobs, maintain financial and fiscal stability, lower budget deficit, and the debt-to-GDP ratio, increase growth rates and achieve economic resilience and sustainable growth.
Advancing human resources by ensuring integration between the recommendations of the National Human Resources Committee, and the National Employment Strategy.
Continue improving the ease of doing business, as well as supporting small and medium enterprises and entrepreneurs.
Continuously work to raise the standards of services provided to citizens and improve the performance of the public sector.
Continue bolstering the rule of law and protecting the values of justice.
The GoJ 2017 Second Achievement Report is comprised of key achievements classified according to: economic, fiscal, national human resource development strategy (HRD), Legislative reforms, public sector reform, digital economy and with more emphasis on social aspects, mainly the safety net and health care. It further highlights the underlying policy and legislative interventions, which have been undertaken to realize sustainable economic growth (stimulus package).
The Government was able to achieve the following progress in the fiscal and monetary indicators as well as in some selected macroeconomic indicators, which were as follows:
Key Financial Indicators for 2017:
(15) Percent decrease in the budget deficit compared to 2016.
(4.4) Percent increase in public debt balance; the lowest increase ratio in public debt in a decade (Public debt comprised 95.3 percent of GDP in 2017).
(7.7) percent increase in domestic revenues.
Improving financial Self-reliance ratio - local revenues' coverage of current expenditure – amounted to (95) percent in 2017 compared with (90) percent in 2016.
On the contrary, Grants witnessed a decline of (15) percent.
The total amount of foreign aid contracted to Jordan in 2017 amounted to USD 3.65 billion, which includes regular grants, soft loans and additional grants to finance the Jordan Response Plan for the Syrian Crisis.
GCC Grants: The amount withdrawn from the grants during the period (2012- 27/12/2017) amounted to JOD (1,953) billion, representing (74%) of the total grants of JOD (2.633) billion.
Economic performance was modest: Real Gross Domestic Product (GDP) grew by (2) percent during the first three quarters of 2017.
On the other hand, some sectors showed improvement, including:
Tourism income increased by (12.5) percent during 2017.
FDI increased by (19.1) percent during the first three quarters of 2017.
Credit facilities grew by (8.4) percent at the end of November of 2017.
Foreign currency reserves stood at USD (12.3) billion at the end of December 2017.
Remittances of Jordanian expatriates amounted to JOD (2.4) billion during the first 11 months of 2017.
National exports increased by (1.5%), while imports increased by (5.4%). The trade deficit increased by (9.7%) as a result during first 11 months of 2017.
The prime challenge remains an unemployment rate in the double digits, coming in at (18.5 percent) during the first three quarters of 2017, in addition to low level of economic participation, especially among women.
The Government has embraced 'Self-Reliance' as a goal, not a slogan. To that end, the Government focused on achieving and implementing the following themes:
Formulating the general framework of the National Financial and Economic Reform Program for the years (2018-2020), through a clear, participatory and institutional approach. This framework serves as a passing document for all Governments (Government's economic agenda), classified as per the following key tracks:
Track one: Fiscal Reform: Re-structuring the tax system, including removing almost all economically inefficient exemptions of GST to finally achieving fiscal and monetary stability.
Track two: Revitalize The Economy: Adopting the detailed action plans of JEGP; focusing on promoting partnership with the private sector (PPP), especially in investment opportunity projects; and implementing a set of legislations that stimulate economic growth. In addition to that, the Government has adopted a number of initiatives, aimed at encouraging entrepreneurship and supporting small and medium enterprises through additional financing tools in cooperation with the Central Bank of Jordan. Updating the Executive Development Program for the years (2016-2020), and updating the Jordan Response Plan for the Syrian crisis, for the years (2018-2020) has already started and the detailed action plans of the Jordan Economic Growth Plan for the years (2018-2022) has been developed.
Track three: Institutionalizing of Social Safety Net: The GoJ has formed a ministerial committee to manage and upgrade the social safety net, in order to protect the underprivileged and middle class and to identify those eligible to receive Government financial support.
Parallel track: Adopting New Communication Strategy:
Implementing (30) outreach programs with various economic-related stakeholders, including the National Assembly members and Parliamentary blocks, the Economic Policy Council, Civil Society institutions' representatives and private sector investors, including entrepreneurs.
Increasing the Government's presence on social networking platforms. This was initiated in October 2017 (The Prime Ministry's accounts on Twitter Facebook). The number of the Prime Ministry pages' followers on social media networks increased by (675) percent.
Strengthening Economic Resilience through:
Food Security: Securing the Kingdom's strategic stock of wheat to cover 12.2 months in 2017, compared to 11.2 months in 2016, and barley stocks to cover 11 months for 2017, compared to 8.9 months in 2016. In addition to expanding the Aqaba and Jweideh silos' capacities to accommodate an additional 750,000 tons, of which a storage capacity of 320,000 tons is under-construction. In addition to adopting effective trade policies, facilitating the flow of goods and services, as well as the re-opening of some export routes (Iraq), and exploring potential additional export markets (African Countries).
More to follow....
4/2/2018 - 01:31:01 PM
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