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Jordan Economy Continues to Grow

Jordan Economy Continues to GrowJordan Economy Continues to Grow

While the public sector continues to play a prominent role in Jordan, the privatization process it has successfully implemented for over two decades has seen a surge over the past 18 months and shows no signs of slowing.

Jordan’s economy continues to grow with the support of development financial institutions—such as the World Bank and the European Bank for Reconstruction and Development—despite the regional security environment. This is reflected in an accumulative portfolio of projects worth over $1 billion, Oilprice.com reported.

Jordan’s privatization success is based on a clear strategy, a strong reformist agenda that is fully supported by the government, the provision of the appropriate procedures for its implementation, and a high degree of transparency through the privatization process.

Despite its economic and regional challenges, Jordan’s stability is reflected in the way the political elite has responded to these challenges—ostensibly by implementing a highly successful privatization program that sets a model for the wider region. Currently, Egypt seeks to adopt Jordan’s energy policy reforms to deal with its own political and financial instability.

Jordan’s stability has been applauded by its political allies, such as the US, and has paved the way for an increase in foreign investment from a number of development financial institutions and private investors, who consider Jordan a viable partner within the turbulent MENA region.

Jordan’s public sector is responsible for building, developing and maintaining the country’s infrastructure. However, over the years, the government privatized certain sectors after realizing that the public sector was unable to shoulder the burden of developing and maintaining large projects.

 

 

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