Jordan's finance minister resigns

August 21, 2007 20:08

Jordan's finance minister resigned on Tuesday amid a government decision not to increase fuel prices. The resignation of Ziad Fariz, a renowned economist who also served as a deputy prime minister, was announced following a Cabinet meeting that had also set parliamentary elections for November 20. Prime Minister Marouf al-Bakhit did not provide details on Fariz's resignation but said he had recommended that Jordan's King Abdullah II accept it. Fariz is a known critic of state fuel subsidizing, arguing that this swells the treasury's fuel bill and exacerbates an already high budget deficit.

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