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[size=36]The Victory Coalition: The state will face a deep financial crisis because of current spending[/size]
Political | 11:45 - 31/07/2019
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BAGHDAD -
Al-Nasr coalition said on Wednesday that the current financial spending, uneducated and prudent will put the country in front of a deep and complex financial crisis, and will have serious repercussions on the social and economic situation, calling for rationalization of public spending.
"The International Monetary Fund's warning on July 30 was in line with our expectations of the current fiscal policy, which we have repeatedly warned against, and that the possibility of stability and economic growth are threatened by increased spending," said a member of the Al-Nasr Al-Sunaid coalition. By 25% per year, which threatens the financial sustainability of the state. "
"The government of Abadi, who inherited a financial collapse in 2014, fought wars and faced social, security and economic emergency crises with an empty treasury that managed to keep the economy from collapsing and the country from losing its liquidity and achieving a surplus of $ 18 billion in 2018, In which rationalization of public expenditure and raising the efficiency of spending and taking into account the preferences of spending priorities and areas, and was planning to make spending product to ensure steady economic growth.
"The warning of the International Monetary Fund is a serious warning to the government to listen to, and that the chaos of fiscal policy or the accumulation of interests will lead to catastrophic repercussions," he said.
Al-Senaid added that "the victory coalition has an integrated vision to ensure a sound financial policy that promotes the growth of the economy and avoids its proximity to dangerous borders." "Mobilizing domestic financial resources, implementing the strategy of financial inclusion, developing the capital market, debt instruments and expanding microfinance, The country's economic growth strategy "
Al-Nasr coalition said on Wednesday that the current financial spending, uneducated and prudent will put the country in front of a deep and complex financial crisis, and will have serious repercussions on the social and economic situation, calling for rationalization of public spending.
"The International Monetary Fund's warning on July 30 was in line with our expectations of the current fiscal policy, which we have repeatedly warned against, and that the possibility of stability and economic growth are threatened by increased spending," said a member of the Al-Nasr Al-Sunaid coalition. By 25% per year, which threatens the financial sustainability of the state. "
"The government of Abadi, who inherited a financial collapse in 2014, fought wars and faced social, security and economic emergency crises with an empty treasury that managed to keep the economy from collapsing and the country from losing its liquidity and achieving a surplus of $ 18 billion in 2018, In which rationalization of public expenditure and raising the efficiency of spending and taking into account the preferences of spending priorities and areas, and was planning to make spending product to ensure steady economic growth.
"The warning of the International Monetary Fund is a serious warning to the government to listen to, and that the chaos of fiscal policy or the accumulation of interests will lead to catastrophic repercussions," he said.
Al-Senaid added that "the victory coalition has an integrated vision to ensure a sound financial policy that promotes the growth of the economy and avoids its proximity to dangerous borders." "Mobilizing domestic financial resources, implementing the strategy of financial inclusion, developing the capital market, debt instruments and expanding microfinance, The country's economic growth strategy "
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