More Than Half of Jordanians See Economic Situation As Worse

Antiques and souvenirs are displayed by a vendor next to Roman Amphitheatre in the downtown area of Amman, Jordan, August 1, 2017. Reuters/Muhammad Hamed
Antiques and souvenirs are displayed by a vendor next to Roman Amphitheatre in the downtown area of Amman, Jordan, August 1, 2017. Reuters/Muhammad Hamed
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More Than Half of Jordanians See Economic Situation As Worse

Antiques and souvenirs are displayed by a vendor next to Roman Amphitheatre in the downtown area of Amman, Jordan, August 1, 2017. Reuters/Muhammad Hamed
Antiques and souvenirs are displayed by a vendor next to Roman Amphitheatre in the downtown area of Amman, Jordan, August 1, 2017. Reuters/Muhammad Hamed

A recent survey showed that 57 percent of Jordanians currently see their economic situation worse than a year ago, while 11 percent said their situation today was better compared to last year and about a third of the population (32%) said their economic conditions have remained the same.

The poll, conducted by the Center for Strategic Studies at the University of Jordan, showed that 59 percent of Jordanians believed the situation in their country was not going in the right direction, while only 41 percent believed the opposite.

According to the survey, which was carried out on the occasion of the first anniversary of Hani al-Mulki's second government, economic problems in general are the most pressing issue for Jordanians, with more than 80 percent of respondents considering them to be their top priorities.

The survey, announced by the Director of the Center, Moussa al-Sheteiwi during a press conference on Wednesday, highlighted the most important problems facing Jordan, which included unemployment (23%), high prices and living cost (21%), the general economic situation (21%) and poverty (16%).

The results showed that the categories of professional unions and the state’s senior men and women had the most positive view on the current situation in the country, while the categories of party leaders and heads of professional and labor unions were the least optimistic.

On the assessment of citizens for government performance, the results showed that around the third of respondents believe that “the government was able to bear the responsibilities of the past phase.”

On the reasons behind the government’s inability to assume the responsibilities of the last period, the poll showed that this was due to four main reasons, including the rise of prices and the general economic situation, the increase in unemployment, the lack of achievements and reforms, and the government’s failure to fight corruption.

Asked on their spending per day on some goods and services compared to what they spent three months ago, 80 percent of the respondents said they now spent more on electricity than they did three months ago, 69 percent said they spend more on university education, and 67 percent spend more on food and drink.

The national sample gathered 1,824 persons aged 18 years and over, equally distributed between men and women and randomly selected from 162 locations covering all the regions of the Kingdom.

The sample of opinion leaders comprised 700 persons from seven categories, 100 persons of each category, with a response rate of 97 percent.



Saudi EXIM Hosts Global Risk Experts Meeting in Riyadh

The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
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Saudi EXIM Hosts Global Risk Experts Meeting in Riyadh

The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA
The event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions. - SPA

The Saudi Export-Import Bank (Saudi EXIM) hosted the Berne Union's Country Risk Specialist Meeting, providing a platform for experts and thought leaders in risk management from the export credit community.
At the meeting, which took place from November 19 to 21 in Riyadh, the attendees exchanged best practices to better protect the industry amid shifting global dynamics.
According to a statement issued by the Saudi EXIM on Saturday, the event gathered specialists from 47 organizations from 33 countries; it served as a platform for discussing strategies, partnerships, and innovative solutions.
By strengthening institutional resilience, the industry is ready to turn global economic challenges into opportunities for economic prosperity, said the statement, adding that it played a crucial role in advancing global trade, strengthening international cooperation, and developing credit solutions that empower export activities while controlling risk, SPA reported.
According to the statement, discussions centered on critical risks impacting international trade and the global economy, such as debt sustainability and geopolitical tensions, along with innovative approaches to risk modelling. Participants also explored the global shifts in infrastructure, energy and critical minerals sectors, and were given an overview of Saudi Arabia's National Industrial Strategy, which focuses on economic diversification through investments, developing new sectors, and promoting local industries.
In his opening remarks, Saudi EXIM CEO Eng. Saad bin Abdulaziz Al-Khalb said the meeting is an ideal platform to address risks impacting global economic decision making.
He stated: "Through such meetings, we can turn challenges into strategic opportunities and enhance our resilience in an ever-changing world. At Saudi EXIM, we remain committed to enabling companies by offering expert financial and non-financial solutions to navigate risks effectively."
He also said that "at Saudi EXIM, we place great emphasis on risk management. In alignment with the main objective of this meeting, I am pleased to announce the completion of our independent country risk model, which is supported by advanced modelling tools and machine learning. This model will provide country ratings and predictions of default risks. We look forward to collaborating with our partners in other export credit agencies to exchange knowledge and expertise, and to strengthening our risk management functions with greater responsibility and effectiveness."
Associate Director at Berne Union Eve Hall said: "The global risk landscape today is highly volatile and highly interconnected. As we navigate our way around the ongoing transformations connected to energy transition and shifting industrial strategies, the traditional concept of 'country risk' is becoming increasingly complex. Our industry excels at understanding, quantifying and pricing these risks, and by bringing together this community of experts for technical exchange the Berne Union is able to help support the development of the industry as a whole. The initiatives announced by our colleagues at Saudi EXIM, making use of new technology in risk analysis, provide a fantastic example of where collaboration in this field can be effectively applied."
The statement disclosed that Saudi EXIM's membership in Berne represents a significant strategic step, and is consistent with the Kingdom's commitment to expanding collaboration and integration in the global economy.
This is achieved by building partnerships with leading institutions to address the challenges facing the export credit sector. It also aligns with the bank's goal of developing the export of national products and services through partnerships with national and international financial and funding organizations.
Berne Union works with global trade organizations to encourage the adoption of best practices in export credit insurance, and to cooperate in maintaining the stability of global trade.
Saudi EXIM, a development bank under the National Development Fund, contributes to diversifying the Kingdom's economic base by improving the efficiency of non-oil export ecosystems, bridging financial gaps, and minimizing export risks. This plays a role in helping the non-oil national economy grow, in line with Vision 2030.