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Jordan, Economy

Aqabah, Persian Gulf War, Persian Gulf states, Israeli occupation, foreign aid

Underdeveloped industrially, poor in natural resources, and largely too arid for agriculture, Jordan is not economically self-supporting and must depend heavily on foreign aid, primarily from petroleum-rich Arab countries. Further burdens were placed on the economy after the 1967 Israeli occupation of the West Bank, which contained nearly half of Jordanís agricultural land, and by the subsequent influx of unemployed refugees. In the late 1980s Jordanís economy became increasingly dependent on the overland transport of goods from the port of AlĎ Aqabah to Iraq and on remittances from Jordanian workers employed in the Persian Gulf states. Both these sources of revenue were jeopardized by Iraqís invasion of Kuwait in August 1990; the Persian Gulf War of 1991 dealt a serious blow to the Jordanian economy. In 1999 Jordanís budget revenues were $2.2 billion and its expenditures were $2.5 billion.

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Article key phrases:

Aqabah, Persian Gulf War, Persian Gulf states, Israeli occupation, foreign aid, West Bank, sources of revenue, remittances, expenditures, burdens, natural resources, poor, agriculture

 
 

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