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Recent study by World Bank underscores significant hurdles facing more than 100 countries
(MENAFN) A recent study by the World bank has underscored the significant hurdles facing more than 100 countries, including Jordan, as they strive to transition from middle-income to high-income status in the coming decades. Economists have expressed skepticism about Jordan's prospects for achieving substantial increases in average income in the foreseeable future, attributing this pessimism to a complex web of geopolitical dynamics in the region and persistent internal economic challenges.
In exclusive statements to "Al-Ghad", experts highlighted Jordan's capacity to adopt recommended strategies from the 2024 Development Report aimed at middle-income countries. These strategies emphasize the integration of modern technologies and successful business practices from global economies. However, the experts cautioned that these measures alone may not suffice to propel Jordan's national economy into the high-income bracket or significantly improve its current income levels.
The discussion centered on the pressing need for tailored solutions that align with Jordan's unique economic characteristics and prevailing conditions. Addressing issues such as high levels of public debt and sluggish economic growth rates were identified as critical priorities. Experts emphasized the importance of locally derived initiatives aimed at elevating income classifications within Jordan, acknowledging the necessity for comprehensive and context-specific approaches to foster sustainable economic advancement.
The assessment underscores the formidable challenges Jordan faces in breaking free from the middle-income trap, painting a cautious picture of the nation's economic trajectory amidst broader regional and internal economic complexities.
In exclusive statements to "Al-Ghad", experts highlighted Jordan's capacity to adopt recommended strategies from the 2024 Development Report aimed at middle-income countries. These strategies emphasize the integration of modern technologies and successful business practices from global economies. However, the experts cautioned that these measures alone may not suffice to propel Jordan's national economy into the high-income bracket or significantly improve its current income levels.
The discussion centered on the pressing need for tailored solutions that align with Jordan's unique economic characteristics and prevailing conditions. Addressing issues such as high levels of public debt and sluggish economic growth rates were identified as critical priorities. Experts emphasized the importance of locally derived initiatives aimed at elevating income classifications within Jordan, acknowledging the necessity for comprehensive and context-specific approaches to foster sustainable economic advancement.
The assessment underscores the formidable challenges Jordan faces in breaking free from the middle-income trap, painting a cautious picture of the nation's economic trajectory amidst broader regional and internal economic complexities.
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