Team to draft strategy for economy development

AMMAN –– A group of economists has agreed to form a team to draft a development strategy for Jordan’s economy for 2014-2022.

They made the announcement at a session, organised by the Talal Abu-Ghazaleh Organisation (TAG-Org) to talk about the need for a long-term strategy for the Kingdom’s economy.

Senator Jawad Anani was the keynote speaker at the session, which was attended by government officials, MPs and economists, according to a TAG-Org statement issued on Saturday.

Anani said that in addition to long-term policies, Jordan needs a short-term strategy to deal with current regional issues, particularly the Syrian crisis and the Middle East peace talks.

He stressed the importance of speeding up the implementation of the oil pipeline between Basra in Iraq and the port city of Aqaba to address energy woes in Jordan. 

Jordanian and Iraqi officials have been engaged in talks to build the $18 billion pipeline, projected to export 2.25 million barrels of oil per day through the Kingdom.

Once implemented, the pipeline will secure Jordan’s oil needs of 120,000-150,000 barrels a day.

“Economic growth remained slow in 2013 and it is vital now to look at the future and overcome the bad management of the country’s main resources,” Anani was quoted as saying in the session, which was held late last week.

The 330,000 students currently studying at university represent a wreal challenge for Jordan in terms of securing employment for them upon graduation, the former Royal Court chief said, adding that Jordan needs qualified young people to build the economy.

He urged policy makers to draft plans for 2022 to address issues related to energy, water, education, unemployment, investments and governorate development.