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    Majority of Jordanians sceptical of economic progress in 2022 — survey-

    January 25, 2022
    finance & economy

    AMMAN — The majority of Jordanians are pessimistic about the Kingdom’s economic prospects in 2022, with concerns ranging from income level and buying power to the country’s overall economic situation, according to a recent survey by the Phenix Centre for Economic and Informatics Studies.

    These findings, which were released on Monday, are based on a sample of 2,448 Jordanian men and women from across the Kingdom.

    “Over 66 per cent of Jordanians described the overall economic situation in the Kingdom as ‘very bad’, while 26 per cent described it as ‘bad’,” the survey indicated. Less than 2 per cent of respondents described the economy as “good”.

    “Seventy-two per cent of Jordanians stated that the overall economic situation during 2021 was worse than 2020, while 22 per cent said that it ‘remained the same’ and only 5 per cent said that it was better than the previous year,” the survey noted.

    The majority of Jordanians are pessimistic about Jordan’s chances for an economic uptick in 2022. According to the survey, 63.2 per cent expect the economy to decline this year, while only 5.8 per cent expect to see improvement.

    Half of Jordanians said their income or that of their family decreased last year, while 43.8 per cent saw no changes. Only 5.6 per cent said their earnings improved.

    “Sixty-five per cent of Jordanians predicted that job opportunities will decline in 2022,” the survey noted. Meanwhile, 56.8 per cent indicated that their ability to pay for basic needs is currently “very weak”.

    The vast majority of Jordanians reported that prices of goods and services went up last year, and over 90 per cent expected further increases in 2022.

    “The year 2022 will be a tough year for the Jordanian economy,” economist Khaled Salameh told The Jordan Times, noting that the country has not yet recovered from the impacts of the pandemic.

    Salameh said that domestic policies will play a key role in a post-pandemic recovery, adding that the government can increase jobs by facilitating investment and easing regulation for investors.

    jordantimes

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