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Jordan imports 96.1% of its energy needs: IMF

Jordan imports 96.1% of its energy needs: IMF

AMMAN: The International Monetary Fund on Friday said that Jordan’s initiatives to reduce its energy dependency could have substantial macroeconomic implications, but will crucially depend on the level of international oil prices in the next decade.

The IMF has published a working paper on Jordan titled: “New Energy Sources for Jordan: Macroeconomic Impact and Policy Considerations”, in which it affirmed that the Kingdom imports 96.1 percent of its energy needs, compared with 94.1 in 2000.

The paper also found that the percentage of energy imports to gross domestic product (GDP) jumped to 16.2 percent in 2013, from 7.5 percent in 2000.