Economic and Social Council recommends reducing budget deficit and boosting economic growth :: Al-Anbat

Nabataeans –

* Economic and Social launches the state of the country 2021

* Shetewi: maintain state of national report in principle, but develop new methodology

* Madanat: The fourth state of the country report came as a participatory effort with all segments of society

The Economic and Social Council has launched its fourth annual report, “The State of the Country” for the year 2021, as a tradition that has been followed in the Council since 2018, which aims to examine the performance of various government sectors according to an analysis rigorous scientific approach to measure the level of institutional achievement and present proposals to improve government performance.

The report included an analytical review of the reality of the different economic and social sectors and the challenges they face, as well as recommendations that could improve the performance of these sectors and strengthen their interrelationships to achieve the desired economic and social progress in society, by reviewing 21 sectors spread over eight main axes.

The President of the Economic and Social Council, Mr. Musa Shteiwi, said that the preparation of this report coincided with difficult circumstances and challenges resulting from the continued slowdown in economic growth and high unemployment, as well as the impact of the Kingdom on the Corona pandemic and the regional crises and conflicts in the region.

Regarding the future role of the council, Shtewi added that the council seeks to build on its experience in social dialogue and develop it with a view to institutionalizing the dialogue to encourage positive dialogue and establish understandings and a consensus between the parties to the relationship and the fundamental interests on the most important issues. economic and social issues of interest to society through the groups that make up the council, which are governmental institutions: representatives of the private sector, representatives of trade unions and professional unions, of civil society, as well as young people and academics.

Dr Shtewi explained that the changes accompanying the country’s entry into its second centenary and the King’s launch of an integrated project of political, economic and administrative rebirth, necessitate developing the methodology used by the Council to be compatible with the major reform projects, in particular after the completion of the political part of the reform plan by approving the results of the Royal Commission for the modernization of the political system, the constitutional amendments and the party and electoral laws.

Regarding the economic aspect, His Majesty the King launched the largest economic workshop with the participation of hundreds of private and public sector workers and experts with the aim of developing a vision and an economic plan for the next ten years that would transcend governments, the results of which should also be published soon.

Finally, the government has formed a public sector modernization committee, the results of which should be announced shortly.

He added that all these changes will lead to a new reality at the strategic policy level if implemented, which requires a review of the nature and methodology of the report, and following the internal review, he It has been decided to maintain the state of the country report in principle, but with the development of a new methodology that focuses in terms of content on the subject A specific generality, with the aim of illuminating all its dimensions in all sectors , analyzing them in a scientific and thorough manner, and then making recommendations about them.

The Secretary General of the Council, Dr. Mitri Madanat, explained in an opening speech at the launch of the report, in the presence of media men and journalists, writers, journalists and local and Arab television channels, that the completion and launch of the fourth state of the country report came as a participatory effort with all segments of society to complement efforts by all sectors to support the decision maker, through the recommendations emerging from the report.

Madanat revealed that the report included comprehensive recommendations for many sectors that are similar to each other with the same difficulties and challenges they face, especially the lack of allocations, governance, preparedness and poor coordination between them, in addition to the partial recommendations made by the report. in order to improve the performance of the single sector to be more transparent and efficient in the delivery of services to the citizen.

Substantial observations made by participants through their interventions and surveys, focused on supporting the board’s decision to refocus the report on a specific issue and broaden its space of activity to keep pace with the needs of society , especially going into the depth of the problems of society that does not find much trouble from the official sectors, pointing out that the effort made by the council deserves praise with the need to develop the efficiency of the performance and to respond to social and economic changes, in light of the comprehensive reform plan undertaken by the State.

The fourth report concluded with a series of recommendations related to fiscal policy and the need to gradually reduce the public budget deficit-to-GDP ratio after, before, and gradually. As for monetary policy, he recommended the need to pursue recovery policies to support economic growth and strengthen financial and monetary stability.

The report highlighted the importance of establishing an enabling environment to attract investment, which included unifying investment credentials through a creative legislative environment, and activating the role of the investment window with the aim of simplify procedures and grant powers to representatives of government agencies. , and specifying them with deadlines to respond to investor requests.

The report concluded that the Corona pandemic and its economic and social effects still dominate policies, legislation and government sources, as the government has made a number of laws, decisions and financial programs initiated during the Corona pandemic , the most important of which were maintaining employment opportunities, resolving outstanding issues with taxpayers, waiving fees and fines, and subsidizing benefits.

In addition, the Central Bank has implemented numerous measures characterized by a flexible, rapid and proactive response to mitigate the repercussions of the Corona pandemic, as an expansionary monetary policy has been followed by reducing interest rates, providing the liquidity necessary for economic activity and to strengthen the capacity of economic sectors to cope with the negative repercussions of the pandemic, including what has been It has a positive impact on mitigating the negative effects of the Corona pandemic on the Jordanian economy.

He revealed the analysis of indicators related to the industrial and commercial sector, the continuous decline in the competitiveness of the national economy in global indicators, the low efficiency of its use of available economic resources, the presence of obstacles to the inflow of foreign investment, limited export diversification and high energy costs.

And that the energy file still poses a great challenge to the national economy, while dependence on the import of crude oil, petroleum derivatives and natural gas has increased to meet the needs of the various sectors, and despite the limited availability of traditional energy sources such as gas and oil, it is relatively rich in rare and radioactive elements, oil shale, renewable energy and wind, which are not yet invested at the required level, and in the future these elements will have to be integrated into the energy strategy.

The health sector has also shown tangible success in the fight against the Corona pandemic, but it still suffers from certain challenges, including the absence of a unified national reference for the governance of the health system and the delay in the achievement of comprehensive and equitable health coverage for the population. population.

It should be noted that the methodology used in the report is that of sectoral reviews, since most policies are sectoral, although the reality indicates that there are overlaps between sectors and reciprocal effects between them, which may not not be reflected in sectoral policies in most cases. has become necessary to move from sectoral policies to integrated or compact economic and social policies.

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