In the medium-term future, Jordan's prospects of escaping from its enduring recession will depend largely on its ability to meet global challenges. This endeavor has become even more acute in light of Jordan's accession to the World Trade Organization, which became official on April 12. The country is now aggressively promoting its exports in international markets.
Still, Jordan’s incoming Prime Minister faces an uphill battle in reviving the Kingdom’s economy. While he should enjoy the business community’s general support in privatizing unprofitable state-owned enterprises, powerful groups with vested interests will continue to do their utmost to block such plans. Nevertheless, the country’s leadership, composed of King Abdullah, Prime Minister Abul Ragheb and a new cabinet, shares a similar set of values and goals that strive to integrate Jordan into the global economy and establish the Kingdom as a regional IT hub.
© 2000 Mena Report (www.menareport.com)
