اقتصاد

An American grant of $845 million to Jordan

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Al-Anbat -

Al - Anbat - Saba - Al - Sukkar
  
Translated by - Neveen - Al - Jarrah 


Most of the information received by "Al-Anbat" indicates that an agreement will be signed with the American side to provide the annual US direct cash support grant to the public treasury at a value of $845 million next month, and explains that it comes as part of the US economic assistance program for the Jordanian government within the memorandum of understanding between the two countries for the period 2018-2022.


Economist Hossam Ayesh told "Al - Anbat" that the American grant is not new, but rather continuous, and therefore comes in the form of packages during a period of either 3, 5 or years, noting that the grant during 2010 was about 600 million dollars, to rise to about 1 billion dollars after that. , and now becomes annually to one billion and a quarter, to reach, in the last agreement, which was made in the previous September, to one billion and 450 million dollars annually.


He added that the continuous US grants are the most stable and growing in order to support the Jordanian economy budget, especially in the recent agreement, about one billion dollars.


He continued, that we use aid as part of the revenues that the government relies on in estimating the budget deficit before and after grants, which means that the government has become dependent on aid, and it is taken into consideration in order to be exempted from carrying out reforms, i.e. one of the reasons that do not lead to positive results. in repair operations; He explained that this reform is either marginal, temporary, lateral or formal; Because it is assumed that reform leads to an increase in the state's revenues and the allocation of its expenditures.


He pointed out that what is happening is the opposite, and that the improvement that sometimes occurs in the public budget is for one year and is unsustainable in reducing the deficit, which leads to an increase in debt and indebtedness with all its negative consequences.


He demanded that the aid be placed in a fund, to be one of the important tools for investment, suggesting that the ten billion dollars over the next 7 years could help establish economic projects through this fund.


He stressed that foreign aid must be dealt with differently, and there is nothing wrong with another agreement, such as being distributed annually and dividing it into two phases; The first is $5 billion and the other half in the second phase is placed in an investment fund and the state needs additional local, strategic or investment projects outside the general budget to confront unemployment and support small and medium enterprises, stressing that this aid needs to be reviewed like the same reviews that are reviewed annually yet another.


For his part, the economic expert, Dr. Wajdi Al-Makhamrah, indicated to "Al - Anbat "that the grant is directly to the general budget, while the details have not yet been disclosed, and whether the funding will be current expenditures or capital expenditures, stressing that if a part has been set to finance capital expenditures; It is positive for capital projects to revitalize the Jordanian economy and activate some economic sectors.


He demanded that the grant be directed to support some priority sectors, such as the agriculture sector, logistics services, the transport sector, and others, which contribute to the recruitment of new labor, stimulating consumption, and activating some support sectors, thus reflecting a clear impact on economic growth.
 
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