AMMAN - The Senate's Finance and Economy Committee, in a meeting chaired by Upper House Head Faisal Fayez, Thursday, approved the draft laws for the 2022 state budget and the budgets of independent government institutions.
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Fayez said the "biggest" challenge facing the Kingdom is economic and has repercussions on the social situation, as Jordan is "targeted and many take advantage of the high numbers of poverty and unemployment, which have reached unprecedented levels."
Investment is the "best" solution to address the current economic challenges, with the aim of achieving economic growth, which would reduce unemployment rates, he noted.
In addition, Fayez highlighted the importance of working to address investment obstacles and raise coordination level among the sector's concerned authorities.
Noting the importance of food security, he stressed the need to invest in agriculture, by cultivating arable lands and establishing earth dams, in addition to supporting and promoting industry, services and tourism sectors.
Fayez also said investments should serve local communities, which would "directly" affect the Jordanian citizens.
Calling for taking into account the Senate committee's recommendations on the two bills, he noted the current stage requires orchestrating efforts to find "effective" solutions to Jordan's economic challenges.
For his part, Minister of Planning and International Cooperation Nasser Shraideh said, "The two bills , despite their importance, should not be viewed in isolation from the state's tools and capabilities and the government's economic and sectoral policies related to the labor market, as well as investment and partnership with the private sector."
Shraideh said last year's indicators were "very good", as the government achieved economic growth rates, restored "normal" trade movement , and also witnessed a "remarkable" growth in exports and imports.
The government also reduced the negative effects and losses in some sectors, he noted, indicating that the unemployment rates went down from 25% in 2020, to 23.2% at the end of the third quarter of 2021.
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