AMMAN: The Senate's Financial and Economic Committee convened two sessions on Thursday to scrutinize the Central Bank of Jordan's recent monetary policy adjustments and the Ministry of Social Development's strategic initiatives. Led by Rajai Muasher, the committee examined measures aimed at ensuring economic stability and fostering social development.
According to Jordan News Agency, the morning session featured Central Bank Governor Adel Sharkas, who reiterated the institution's dedication to maintaining monetary stability while promoting economic growth. Sharkas highlighted recent interest rate reductions on policy tools, designed to balance stability with economic activity stimulation. He praised the resilience of Jordan's banking sector, which he described as crucial to the national economy's ability to absorb external shocks.
Sharkas reported a 4.9 percent increase in credit facilities granted by banks, amounting to JD1.6 billion, which brought the total to JD35 billion by November 2024. Deposits also saw a significant rise, growing by JD2.7 billion, or 6.2 percent, reaching JD46.5 billion. These figures, Sharkas noted, underscore the economy's robust response to sound economic policies and structural reforms laid out in Jordan's comprehensive reform roadmap.
The economy recorded a 2.6 percent growth in the third quarter of 2024, with projections indicating an annual growth of 2.4 percent, reflecting a steady recovery despite regional geopolitical tensions.
In the evening session, Minister of Social Development Wafa Bani Mustafa presented the ministry's strategy titled "Dignity, Empowerment, Opportunity, and Resilience." This initiative aims to integrate modernization efforts across economic, political, and administrative sectors. Bani Mustafa discussed plans to improve financial and institutional sustainability, enhance automation, and foster partnerships with private and civil society sectors.
Bani Mustafa revealed that the National Aid Fund had already supported 235,000 families by the end of 2023, with intentions to extend assistance to an additional 15,000 families. She also addressed economic empowerment programs designed to provide training and rehabilitation for fund beneficiaries, facilitating their self-reliance and integration into the workforce.