AMMAN — Jordan has completed around 82 per cent of the Economic Reform Matrix launched under the London Initiative, with 330 measures implemented out of 403, according to official data.

Figures released on Thursday by the Economic Reforms Implementation Support Unit at the Ministry of Planning and International Cooperation showed that 73 measures remain under implementation, according to the Jordan News Agency, Petra.

Following a restructuring, the updated matrix now spans 12 pillars instead of nine and covers 44 reform areas rather than 37, while remaining "closely" aligned with the Economic Modernisation Vision (EMV) through the incorporation of 30 initiatives drawn directly from the programme.

Developed by the government with support from the World Bank and development partners, the reform agenda has been in effect since 2018. The matrix was formally unveiled at the London Initiative conference "Jordan: Growth and Opportunities" in February 2019.

The programme combines structural and legislative reforms aimed at safeguarding macroeconomic stability, improving the business climate, and stimulating investment and exports. It also serves as a "reference" framework for both government policy planning and donor engagement.

Agriculture recorded full completion at 100 per cent, covering five reform areas and 23 measures, followed by the water sector with a 91 per cent completion rate.

Public finance reforms reached 90 per cent, while measures to enhance public sector efficiency stood at 89 per cent, while reforms targeting the business environment and labour market and skills development each achieved an 86 per cent completion rate.

Investment and export promotion reforms reached 78 per cent, while social protection measures stood at 82 per cent.

Completion rates reached 81 per cent in the energy sector, 73 per cent in tourism, and 71 per cent in transport, while the access to finance and capital markets sector recorded the lowest rate at 63 per cent.

The reform matrix is subject to annual reviews led by the reform support unit of the ministry, which conducts consultations with implementing agencies, experts and the World Bank technical team, donors and private sector representatives, Petra reported.

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