FAQ · Economy & Work 9

Jordan has faced significant challenges regarding its energy imports, which currently consume one fifth of the GDP. In the past, the country relied on reduced price oil from Iraq, but the 2003 invasion forced a shift toward Egypt for oil and gas. The supply from Egypt was later interrupted by the Arab Spring and the ousting of President Hosni Mubarak in 2011. Since then, Jordan has become dependent on gas imports from Israel, which are highly unpopular in the country. To address these issues, Jordan is working to diversify its energy portfolio through various programs.

Jordan has a high proportion of skilled workers compared to others in the region. Many Jordanian expatriates find work in the Persian Gulf countries, which absorb about 90% of these migrants. Specifically, Saudi Arabia and the United Arab Emirates are the host countries that have absorbed most of the Jordanian expatriates. These workers often export their high skilled labour to the Persian Gulf States. This movement of people contributes significantly to the remittances sent back to Jordan.

A significant development is the water-for-energy deal, also known as Project Prosperity, which involves Jordan, Israel, and the UAE. This agreement includes a plan for a UAE-funded solar farm in Jordan to provide renewable energy to Israel. In exchange, an Israeli desalination plant would provide water to Jordan. This initiative is seen as a possible realization of the Green Blue Deal. It connects regional climate and water diplomacy with potential European Union involvement in Middle East climate policy.

Jordan has established several Qualifying Industrial Zones, including the Al-Hassan Industrial Estate, Al-Hussein Ibn Abdullah II Industrial Estate, and Aqaba Industrial Estate. These zones allow products to qualify for duty-free access to the United States market if they meet specific manufacturing and material cost requirements. The clothing and textile industry has benefited the most from this arrangement due to high tariffs on these goods. Since the establishment of these zones, Jordan has experienced substantial economic growth and increased exports to the United States. Additionally, government sources estimate that over 40,000 jobs have been created through the setup of these QIZs.

The Central Bank of Jordan participates in the establishment of several financial institutions and corporations. This includes the Deposit Insurance Corporation, which supports economic development efforts in the country. The bank also adopts procedures and measures to deal with economic problems to avoid adverse effects on the economy. Additionally, the CBJ regulates the quantity, quality, and cost of credit to maintain monetary stability. These functions help support the overall economic and financial conditions in Jordan.

When you receive a receipt in Jordan, you should check it carefully to ensure the amount matches what you expected. This is particularly important when using ATMs, as some machines may charge a fee of up to 7 JD. You should verify if any additional fees were collected, especially if the receipt states more than the amount you actually received. It is helpful to try several different machines to find one with the lowest or no fee. Keeping track of these details helps you manage your transactions more effectively while traveling.

You should be aware that some tourist guides and taxi drivers may lead you to overpriced venues to collect commissions. This can result in restaurants becoming tourist traps with inflated prices. Additionally, hotels might add a surcharge if a guide or taxi driver is standing right next to you during a price inquiry. To avoid this, it is better to choose your own restaurants and hotels independently. You should also use taxi drivers strictly for transport rather than relying on them as guides.

Jordan's currency is the Jordanian dinar, which divides into 100 qirsh, also called piastres, or 1,000 fils. Since 23 October 1995 the dinar has been officially pegged to the IMF's special drawing rights, and in practice one US dollar is fixed at 0 point 709 dinar, or about 1 point 41044 dollars per dinar. The Central Bank buys US dollars at 0 point 708 dinar and sells them at 0 point 7125 dinar, while exchangers buy at 0 point 708 and sell at 0 point 709. Jordan was ranked the 19th most expensive country in the world to live in during 2010, and the most expensive Arab country to live in. It also ranked 18th on the 2012 Global Retail Development Index, and a 2010 Quality of Life Index prepared by International Living magazine placed Jordan second in the MENA.

Fuel prices in Jordan are fixed by the government, so a driver does not find a cheaper station by leaving Amman for a rural area. As of October 2018, the listed prices were about 0 point 825 JD per litre for unleaded 90 octane, 1 JD per litre for unleaded 95 octane, and 0 point 625 JD per litre for diesel. Those prices are reviewed each month so that local prices reflect international gas prices. Renting a car is described as inexpensive, and the main highways, including the Desert Highway linking Aqaba, Ma'an, and Amman, are generally in very good shape. The same source still warns against driving outside the capital, Amman, after dark, especially in the southern and more rural parts of the country.