The Financial and Economic Committee at the Jordanian Senate, chaired by His Excellency Dr. Rajai Muashar, hosted the Jordan Strategy Forum to discuss the impact of the war in Gaza on the Jordanian and regional economies. Additionally, a comprehensive analysis of the General Budget for the year 2024 was presented considering the Cabinet's approval of the draft General Budget Law for the fiscal year 2024.

 

The CEO of the Jordan Strategy Forum, Her Excellency Nesreen Barakat, presented the results of a public opinion poll conducted by the Forum to gauge public sentiments regarding the impact of the Gaza war on various economic sectors in Jordan. The poll also explored the measures taken by business owners to adapt to the current situation. Dr. Zafiris Tzanattos, a former World Bank Expert and a Senior Fellow at the Jordan Strategy Forum, provided insights into the expected impact of the Gaza war on the neighboring countries and Jordan, with a focus on three key areas: Gross Domestic Product, poverty rates, and the Human Development Index. Dr. Tzanattos highlighted the extent to which the Jordanian economy would be affected based on different war scenarios.

 

Dr. Ghassan Omet, the Director of Research at the JSF, presented the Forum's observations on the draft General Budget Law for 2024, highlighting key aspects of the law. He also outlined the Forum's recommendations to achieve sound and sustainable fiscal policy.

 

A discussion followed, on how the 2024 budget aligns with the initiatives of the Economic Modernisation Vision, especially considering that it is the second budget following its launch. The participants emphasized the importance of long-term planning to achieve strategic and effective budgets.