Like the region’s other Arab monarchies, energy is a key concern in Jordan, albeit for very different reasons. Boasting next to zero oil and gas resources, the Hashemite kingdom relies on costly imports for 95% of its energy consumption—a further burden on the country’s stagnant economy.
Energy imports cost Jordan $3.42bn (JD 2.45bn) in 2017 up 26% from 2016, and with spending on oil imports alone up 43% for the first eight months of 2018, MEES estimates total spending on energy imports will easily exceed $5bn by the end of the year—equal to a whopping 12% of GDP. (CONTINUED - 1801 WORDS)
