about a third due to the decline in consumer and commercial activity for individuals and companies. . The former minister got some points as the following: 1. He pointed out that the fall in oil prices reduced the demand for the implementation of major projects and led to a slowdown in the implementation of some of them, such as wind power projects, despite the high demand for them, while the start of projects in the field of extraction of shale oil, which will be relied upon significantly. Chairman of the Energy Committee at the previous session of the House of Representatives Atef Tarawneh said that the financial crisis contributed to the slowdown in the implementation of major projects in the energy sector, most notably the fourth expansion project of the refinery, where the company failed to attract the investor (strategic partner) so far, which led the government granted them exclusive for 15 years. 2. He added that wind power projects faced a slowdown in implementation due to the failure of investors to provide electricity prices suitable for the implementation of the project compared to international prices for such projects and not because of the global financial crisis. He pointed out that the decline in oil prices in the beginning of the crisis reflected positively on the prices of domestic sales of oil derivatives, but expectations that the return of prices to rise and will have an impact on the volume of consumption.
Transportation sector transportation sector was affected by the financial crisis. The first result was the failure of the government to sign the agreement for the implementation of the light train project between Amman and Zarqa with the Spanish-Kuwaiti coalition for failing to achieve the financial closure of the project. The first date was on the 29th of January of year 2009 and was extended to the end of April at the request of investors. It was extended again until the end of June in light of the requirements of the funding authorities interested in financing the project. It have been announced later in Presenting a coalition of Aqaba Gate Group Best, currently being negotiated with him to reach a final agreement on the terms and conditions of the project agreement. The biggest challenge in the opinion of the experts in the transport sector is to provide liquidity for the implementation of ambitious projects for the sector, led by rail projects and the light rail project between Amman and Zarqa and the new port of Aqaba in the shadow of the recession suffered by the global economy and is still especially that the government can not implement those projects Of treasury revenues. They pointed out that despite the financial crisis, the government continued to complete the required studies and designs for the railway network projects, especially that the crisis showed that the investment funds towards the infrastructure projects being the safest and achieve real return on investment and increase the value added and thus national income instead of the financial markets that have been exposed For major losses in 2008 being guaranteed projects Exports through
- Winter '11
- Subprime mortgage crisis, Financial crisis of 2007–2010, Bank run