King attends launch of Jordan Economic Growth Plan

His Majesty King Abdullah II, on Wednesday, chaired a meeting for the Economic Policies Council during which a 5-year plan designed to stimulate economic growth and boost the resilience of the national economy against regional and international challenges was launched.

The Jordan Economic Growth Plan (JEGP) aims at injecting vigor into the national economy and put the Kingdom on the sustainable development trajectory, gradually lessen dependence on aid by relying on expanding economic and investment opportunities and build an economy capable of providing adequate employment opportunities for young people.

It also seeks to invest in human resources as well as developing government institutions to be able to provide public services to citizens with high efficiency.

His Majesty emphasized that the plan must succeed and translate into better living conditions, urging an all-encompassing effort to realize the objectives of the plan, at the forefront of which are slashing public debt, providing employment opportunities and raising income levels.

The King said a quick and practical implementation and the commitment of all stakeholders is the key to bring about sustainable development.

His Majesty said that this plan will back up the “Jordan 2025 Vision” and will serve as a reference to measure progress and achievement.

“We don’t have any option to cut debt, uplift income levels and increase job opportunities but through implementing the programs and plans that we have devised in cooperation with the international community, Jordanian expatriates and businessmen and Arab and foreign investors”, the King told the meeting.

King Abdullah ordered the Economic Policies Council to follow up on the implementation of the JEGP in cooperation with the government. His Majesty also said the nation’s embassies and ambassadors abroad must play a more vigorous economic role, describing such role as a top priority at this stage.

Prime Minister, Hani al-Mulki, said his government is fully committed to implementing the JEGP since it will help strengthen the resilience and flexibility of the national economy over the next five years.

He said the plan is an integral and necessary part, as is the fiscal reform program, to spur economic growth.

The prime minister added that implementing the JEGP will be governed by clear procedures and it will focus on all vital economic sectors, stressing that specialists from all government institutions will follow up on the implementation of the JEGP’s programs.

Al-Mulki noted that the government will work in cooperation with the Economic Policies Council to follow up on the implementation of the plan through holding periodic meetings every two months to examine what has been and what will be implemented.

The JEGP was formulated in a joint effort between the Economic Policies Council and relevant government agencies. A successful implementation by the government will double the economic growth of Jordan over the next five years, reduce debt, provide jobs and raise income.