Council established to discuss economic policies

AMMAN — His Majesty King Abdullah on Sunday ordered the formation of the Economic Policies Council, whose mandate is to discuss economic policies, programmes and development plans.

Functioning under the direct supervision of the King, the 15-member body is also tasked with identifying the main constraints holding back economic growth and propose solutions to overcome them, according to a letter His Majesty sent to Prime Minister Hani Mulki.

The premier is the only representative of his government on board. Other members include the governor of the Central Bank of Jordan and the director of the Department of Economic and Social Development at the Royal Hashemite Court as a rapporteur, along with private sector representatives and economic experts. 

Following is the official translation of the letter the King sent to Mulki:

“Your Excellency Prime Minister Dr Hani Al Mulki,

Peace, God's mercy and blessings be upon you,

We convey to you and your colleagues our best wishes, trust and appreciation for your efforts to serve the country and its people.

It is our firm belief that citizens are at the core of the development process, and working to improve the lives of people remains our top priority. Since we assumed our constitutional responsibilities, we have given national affairs and economic conditions our utmost care.

It is essential to do our best to improve the performance of our national economy, ensure a decent life for our dear people and provide them with all means available to keep up with scientific and technological developments, which have become the defining characteristic of this era.

With the grace of God, we have succeeded over the past 16 years to expand the national economy, develop new sectors and strengthen our economy, which has persevered and grew despite the crises that have engulfed us in recent years. This was made possible through necessary economic and structural reforms we have carried out along vital development plans in various sectors over the past years.

We are fully convinced that the development of economies and creation of jobs hinge on the innovations, ideas and initiatives of the private sector and its contributions to development efforts. In this context, we should emphasise the importance of the key role of the private sector in Jordan, and the need to strengthen its partnership with the public sector in economic policymaking and empowering the private sector to fulfil its role in the economic and social development process.

Your Excellency,

We have emphasised in the Letter of Designation that the main priority and real challenge for our country is to address poverty and unemployment, especially as we face great economic challenges, some of which are caused by difficult regional situations, namely the exacerbation of the economic and social consequences of the Syrian refugee crisis, which continue to place mounting pressure on our limited resources.

Despite various economic challenges, we firmly believe that we are capable of turning these challenges into opportunities. This requires all of us to invest in such opportunities to achieve the goals of the sustainable economic development we seek, so that they reflect positively on improving the living conditions of people in various governorates.

Your Excellency,

As we appreciate the government’s submission of its Executive Programme aimed to fulfil the various aspects of our directives in the Letter of Designation, and as we are aware of the need to translate policies into actions, provide sustainable development solutions, enhance the investment environment, stimulate growth and pursue a participatory approach in the implementation of government programmes in partnership with the private sector, we have decided to form an Economic Policies Council.

The council is mandated to discuss economic policies, programmes and development plans in various sectors, identify the main constraints holding back economic growth and propose solutions to overcome them. The council will be supporting the government’s efforts aimed at overcoming economic difficulties, investing in opportunities, achieving higher growth rates and enhancing the competitiveness of the national economy.

Accordingly, we have decided that the council will be under our supervision and to comprise the following:

The Prime Minister

Governor of the Central Bank of Jordan

President of the Social Security Investment Fund

President of the Financial and Economic Committee at the Senate

President of the Economic and Investment Committee at the House of Deputies

President of the Jordan Chamber of Industry

President of the Jordan Chamber of Commerce

Dr Salaheddine Mohammad Al Bashir

Mr Munir Yousef Nassar

Mr Mazen Samih Darwazeh

Mr Yazid Adnan Al Mufti

Dr Ayman Eid Mazahreh

Eng Firas Omar Abu Wishah

Mr Shahem Munib Al Werr

Director of the Department of Economic and Social Development at the Royal Hashemite Court (rapporteur)

We have also decided that concerned ministers as well as experts whose opinions and suggestions are of importance are to attend the meetings of the council, which has also to form specialised working groups to support its work.

We look forward to seeing serious work done by this council, in a way that serves the economic, sustainable development goals we are striving to achieve, ensure a dignified life for our giving citizens and keep our beloved country resilient and stronger.

Wishing Your Excellency and your colleagues, the ministers, success.

Peace, God’s mercy and blessings be upon you.”