Dead Sea, Jordan: Jordan will invest $18 billion (Dh66.06 billion) over the next 10 years in its infrastructure, power generation and urban developments, said His Majesty King Abdullah II Ibn Al Hussein of the Hashemite Kingdom of Jordan in his opening address at the World Economic Forum Middle East and North Africa.
Faced with slow progress in private investments and a rising refugee influx from the regional political turmoil, Jordan on Friday unveiled a plan at the World Economic Forum (WEF) to revitalise key sectors of its economy.
Regional turmoil coupled with chronic economic hurdles has been preventing the growth of investments in the country. The kingdom is currently home to more than 2 million Syrian refugees, scattered across refugee camps, placing a major pressure on key infrastructures in a country.
Despite the economic and social challenges faced by Jordan from the geopolitical situation in the region King Abdullah said the economy is on revival path. “Over the last year our budget deficit is down by 50 per cent and the economy grew in excess of 3 per cent last year and we expect the growth to exceed 4 per cent this year,” King Abdullah said.
The king thanked the UAE, Saudi Arabia and Kuwait for committing substantial resources as investments in Jordan.
