AMMAN — The Jordan Economic Forum (JEF) on Saturday called for the second phase of the Economic Modernisation Vision’s (EMV) executive programme (2026–2029) to prioritise translating economic gains into higher incomes and improved living standards, following the mixed outcomes from the first implementation phase (2023–2025).

 

In a recent analytical paper titled "Economic Modernisation Vision: Tracking the Impact of the Executive Programme — Phase One (2023–2025)," the forum said that the first phase delivered notable progress in areas such as economic growth, foreign direct investment (FDI) inflows and job creation.

 

JEF noted that the impact on real income and quality of life remained “limited” due to the capital-intensive nature of sectors driving growth, uneven efficiency of capital spending and the concentration of new jobs in low-productivity segments.

 

The paper stressed the need to enhance execution efficiency, boost productivity and align fiscal and economic targets with realistic financing capacities.

 

Citing official data, JEF said that between early 2023 and the end of the third quarter of 2025, the government completed 36.4 per cent of 641 priorities under the executive programme, while 55.6 per cent remain in progress and 38 priorities are behind schedule.

 

High-value industries accounted for the largest share of achievements, followed by future services, entrepreneurship and innovation, and sustainable resources.

 

Other pillars, including quality of life, tourism, investment and environmental sustainability, showed variable progress reflecting sector-specific constraints.

 

The paper builds on a previous study released in March and notes that the second executive programme is still being prepared, with final assessment data for phase one yet to be published.

 

The paper reported that 96,421 jobs were created in 2024, achieving 96.4 per cent of the annual target and slightly exceeding the 2023 figure.

 

Unemployment remained high at 21.3 per cent in the second quarter of 2025, underscoring what the forum described as “limited labour-market impact” due to the concentration of new jobs in low-wage, temporary or seasonal roles.

 

Annual job creation during the first phase ranged between 95,000 and 100,000 opportunities, a number deemed “insufficient” to reduce unemployment meaningfully without improving job quality, productivity and sectoral diversification, the JEF’s paper showed.

 

Real per capita income increased marginally from JD2,830 in 2023 to JD2,846 in 2024, marking a 0.6 per cent rise, well below the vision’s target of 3 per cent annual growth.

 

Income growth has remained under 1 per cent since 2022, pointing to structural constraints in productivity and wage growth.

 

Nominal per capita GDP reached JD3,228 in 2024, around 85 per cent of the target, growing 2.5 per cent from 2023. Yet, these gains did not translate into higher real incomes, the forum said.

 

Despite not being a core target of the vision, the foreign direct investment (FDI) remains central to technology transfer, competitiveness and high-quality job creation, the forum noted.

 

Net FDI reached JD721 million in the first half of 2025, the paper said, equivalent to roughly two-thirds of the annual JD1 billion target. Total FDI in 2024 reached JD1 billion, surpassing the JD900 million goal, signalling improved investor confidence.

 

The forum reaffirmed that the EMV remains the Kingdom’s most comprehensive long-term framework for addressing structural challenges and improving living standards.

 

JEF urged policymakers to enhance monitoring mechanisms, clarify measurable social impact and ensure that the vision evolves into a sustained pathway for improving citizens’ lives rather than a time-bound plan.