Advances in Management and Applied Economics

Short-and Long-run Influence of COVID-19 on Jordan's Economy

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• Abstract

   

  Global economic growth projections have been revised downward in the wake of the COVID-19 pandemic. This adjustment mirrors a substantial global economic decline brought about by COVID-19-induced lockdowns, which greatly restricted labor force movement and disrupted international trade, with Jordan aligning itself with this downward trend. This report provides a comprehensive sector-specific assessment of the COVID-19 impacts on the Jordanian economy, drawing on Jordanian official reports, various news sources, and expert opinions. Jordan's battle with COVID-19 extends beyond public health, encompassing significant economic challenges, with the ongoing economic struggle potentially proving more formidable than the health crisis. Therefore, Jordan's primary focus should be on establishing a precisely targeted social safety net, given the pandemic's highlighting of widespread informality in employment across the Middle East and North Africa region, as it navigates its path to economic recovery.

   

  JEL classification numbers: I, I15.

  Keywords: COVID-19, Economic influence, Jordan, Microeconomics, Macroeconomics.