Front Matter Page
© 2012 International Monetary Fund
May 2012
IMF Country Report No. 12/120
Jordan: Selected Issues
This selected issues paper on Jordan was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on March 26, 2012. The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of Jordan or the Executive Board of the IMF.
The policy of publication of staff reports and other documents by the IMF allows for the deletion of market-sensitive information.
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Front Matter Page
INTERNATIONAL MONETARY FUND
JORDAN
Selected Issues
Prepared by Moataz El-Said, Yasser Abdih, Annette Kyobe, Mehdi Raissi, Agustin Roitman, and Hirut Wolde (all MCD), Anna Ter-Martirosyan, and Nkunde Mwase (both SPR)
Approved by the Middle East and Central Asia Department
March 26, 2012
Content
I. Energy Subsidies: Fiscally Burdensome and Inequitable
Figures
1. Fiscal Cost of Energy Price Subsidies
2. Jordan Domestic and International Diesel Prices
3. Expenditure Shares of Energy Products by Welfare Level
4. Share of Benefit from Energy Subsidies
Content
II. Oil Prices and the Jordanian Economy
Figures
1. Oil Imports and Oil Prices
2. External Income and its Composition
3. External Income and Oil Prices
4. Jordan’s Exports to GCC and Oil Prices
Content
III. Assessing Reserve Adequacy in Jordan
Figures
1. Reserves to Imports
2. Reserves to Short Term Debt
3. Reserves to Broad Money
4. Reserves to Short Term Debt + Current Account Deficit
5. Model-Based Optimal Level of Reserves
6. Reserves Against Risk-Weighted Metric
Content
IV. Jordan-Financial Conditions Index
Figure
1. Jordan: Financial Conditions Index
Content
V. Drivers of Growth in Jordan
Figures
1. Real GDP Growth Rate in Jordan
2. Sector Shares of GDP by Decade
3. Starting a Business—Global Rank
4. Getting Credit—Global Rank
Tables
1. Sectoral Contribution to Real Growth in Percentage Points
2. Jordan’s Ranking for Doing Business 2011
Content
VI. Fiscal and Debt Implications of Mega Projects
Table
1. Jordan: Consolidated Impact of Megaprojects on Central Government
Content
VII. The Employment Challenge Facing Jordan
Figures
1. Unemployment Rates by Region
2. Employment-to-Working Age Population Ratios and Labor Force Participation Rates By Region
Table
1. Growth Required to Absorb New Labor Force Entrants and Currently Unemployed
Content
Taking Stock of Public Investment Efficiency, Capital Accumulation and Total Factor Productivity in Jordan
Figures
1. Jordan Infrastructure
2. PIMI Overall Index: Decomposition by Sub-Index
3. PIMI Index and its Sub-Components: Selected Countries in MENA
4. Output per Worker: MENA Region
Table
1. Decomposition of Output Per Worker, 1992-2008