Jordan’s Economic Challenges

According to Central Intelligence Agency, unfortunately Jordan has one of weakest economies in the Middle East. They lack abundance in natural resources, oil and especially water. There are reported instance where cities run out of water and are forced to purchase bottled water. The country is facing high unemployment rate as well as the problem with poverty. Additionally, the economy is facing the issue of inflation and large budget deficit. Jordan relies heavily on foreign assistance which often could be seen in a negative light. The Arab State joined the IMF on August 29 1952 and three years later it became a member of the United Nations. Finally in 2000 Jordan gained a membership in the World Trade Organization. In Fareed Zakaria’s book, he states that the right now we live in the world of Islamic threat and with that paranoia Western Nations might be hesitant to provide economic relieve or develop economic ties with a Middle Eastern country. Jordan has been one of United States strongest allies in Arab region and the country has reassured the US that they have no connections to Al Qaeda. This positive relationship help Jordan in getting a substantial amount of economic relive from the US. In the Anti-Economist, Madrick puts emphasis on how WTO has gained momentum in the mid-1990s and has replaced GATT. This change is beneficial to Jordan since the country is struggling in the economy realm. Hopefully in the upcoming years Jordan can pull out ahead in their economy and become a flourishing state.

http://jordantimes.com/section/local
http://www.un.org.jo/

Posted by Irina Franz

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2 thoughts on “Jordan’s Economic Challenges

  1. I can imagine there’s been a large amount of Syrian refugees in Jordan the last couple of years. That has to have been dragging on the economy as well.

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