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{Financial sustainability}.. a direct role in reducing the deficit and curbing unemployment
Economical 2023/05/23
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Baghdad: The Emad of the Emirate
Those concerned with economic affairs stressed the necessity of activating the tools of "financial sustainability" and working in a real way to increase the country's revenues and raise the percentage of the cash reserve ceiling, indicating that these trends represent a tool for a stable economic policy that reduces the fiscal deficit and reduces its risks to the budget, as well as controlling rates. Inflation, curb unemployment and stimulate growth.
The financial advisor to the Prime Minister, Dr. Mazhar Muhammad Salih, reduced to "Al-Sabah" the potential risks of the "hypothetical fiscal deficit" on the general budget, despite the deficit barrier exceeding 64 trillion dinars, justifying this with the continued sale of oil rates above the calculated price per barrel in The budget, which is $70.
And financial sustainability, according to the specialist in economic affairs, Dr. Imad Al-Ani, is one of the important elements in economic stability, and is closely related to the deficit, its financing, its ratio to national income, and its effects on aggregate demand and inflation, noting that “with the increase in the fiscal deficit and the debt balance, the sovereign credit failure increases.” This leads investors to demand an additional premium to compensate for the loss resulting from the possibility of non-payment.
He added, "The fiscal deficit has significant effects on long-term interest rates on government bonds, and then the relationship between government spending and its revenues (i.e. deficit and surplus) becomes a tool for economic policy in order to control inflation, curb unemployment and stimulate growth more than it does to fund government activities in security, services, etc. to her".
Al-Ani added, "Financing the volume of government spending is necessary to sustain economic activity and prevent unemployment from widening.
For his part, the specialist in economic affairs, Dr. Muhammad Shehab, explained to “Al-Sabah” that “governments are facing the need to reduce the structural fiscal deficit, and this need is linked to the importance of reducing spending, explaining that governments sometimes resort to financing the deficit from central banks, by purchasing debt securities.” governmental".
He stated that “central banks, when dealing with government debt instruments, whether buying or selling, are not only intended to facilitate financing the general budget or restrict debt, but rather this is among what they are really interested in by supporting the economic development process.”
in general".
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