Jordan – Prominent businessman warns of global economic crisis in 2020

Amman-Jordan 30/01/2019

Palestinian-Jordanian businessman, Talal Abu-Ghazaleh, sounds the alarm of a major economic crisis that may hit globally by the year 2020, during a panel discussion hosted by United Arab Media Council (UAMC) in Jordan’s capital Amman, under the title “The Global Economic Crisis 2020: A Crisis or Opportunity?”. Abu-Ghazaleh believes that this crisis will start in the United States, and will be much more devastating than the 2008 one. Abu-Ghazaleh also expects chaos in the world trade market and he mentioned that the interest rates are expected to increase, and that oil prices will hike to reach more than 150 dollars per barrel, adding that this crisis will impact each country differently, which will lead the region to experience even more conflicts.

Abu-Ghazaleh called upon the governments and the private sector to take the required precautionary measures, and prepare to face the potential crisis. He also pointed out that the Arab countries are unaware of how serious this crisis might be. Abu Ghazaleh has based his expectations on his decade-long economic expertise and his study and observations of international and regional economic and political conditions. The panel discussion was attended by a wide spectrum of economists, academics and representatives of the private sector.