This solar energy is not only for the production of pollution-free electricity but also for ancillary tasks such as seawater desalination of the Trans-Mediterranean Renewable Energy Cooperative (TREC)
Jordan has faced economic challenges, including high unemployment rates and public debt. In recent years, the country has implemented economic reforms aimed at addressing these issues and achieving fiscal stability. Efforts have been made to reduce public spending, increase tax revenues, and attract foreign direct investment. Jordan has been striving to diversify its economy beyond its limited natural resources, such as phosphates and potash. The government has focused on developing sectors like tourism, information technology, renewable energy, and services to reduce reliance on traditional industries.
Jordan is a small country with limited natural resources. The country is currently finding ways to expand its limited water supply and is making better use of its existing resources, especially through regional cooperation. Jordan also depends on foreign sources for most of its energy needs. During the 1990s, the country's Crude oil needs were met by imports from Iraq and other neighboring countries. Since early 2003, Jordan's oil needs have been supplied by GCC member states. In addition, the Arab gas pipeline from Egypt to the southern Jordanian port city of Aqaba was completed in 2003. The Jordanian government is currently planning to extend the gas pipeline north to Amman and beyond.
Like many countries, Jordan has been affected by the COVID-19 pandemic. The measures taken to contain the virus, including lockdowns and restrictions on economic activities, have had a significant impact on sectors such as tourism, transportation, and retail. The government has implemented stimulus packages and support measures to mitigate the economic effects of the pandemic. Jordan has received financial assistance and support from international organizations and donor countries. This assistance helps to address economic challenges, support infrastructure development, and provide aid to refugees.
Jordan's population growth rate is high but has declined in recent years to 2.8%. One of the most important factors in the government's efforts to improve the social welfare of its citizens is the macroeconomic stability of the country, which has been achieved since the 1990s. Nevertheless, the unemployment rate in this country is high. The official unemployment rate in Jordan is 12.5% and the unofficial figure is around 30%. Price inflation is low, reaching 2.3% in 2003. Money circulation in Jordan is also stable and the exchange rate has been set in US dollars since 1995.
Although Jordanians are seeking economic reforms and increasing their country's trade, Jordan's economy remains vulnerable to external shocks and regional unrest. If there is no peace in the region, it seems that economic growth is doomed to be below its potential. As for the optimistic aspect of Jordan, we can mention its capacity and ability in solar energy, which is owed to the deserts of this country. This solar energy is not only for the production of pollution-free electricity but also for ancillary tasks such as seawater desalination of the Trans-Mediterranean Renewable Energy Cooperative (TREC).
Jordan has pursued trade agreements with several countries and regional blocs to boost international trade. The country benefits from its strategic location, acting as a bridge between Europe, Asia, and Africa. The Qualified Industrial Zones (QIZs) have also attracted foreign investment by offering preferential access to the U.S. market for goods produced in Jordan using a certain percentage of Israeli inputs. Jordan faces challenges related to water scarcity, energy dependency, and the influx of refugees from neighboring countries, particularly from Syria. These challenges strain the country's resources and infrastructure and put additional pressure on the economy and public services.
