Expert: Iraq has more than one option to resort to to compensate for the budget deficit
The economist, Dr. Safwan Qusai, stressed that Iraq has more than one option that can be used to compensate the budget deficit, pointing out that the Ministry of Finance has more than one source of funding for the country, in addition to reducing expenses and salaries, which is the last solution.
Qusai said in a press statement that "the [You must be registered and logged in to see this link.] is supposed to be unrealistic, especially if we know that the price of a barrel of [You must be registered and logged in to see this link.] at a rate of 60 - 70 dollars, and that the Ministry of Finance can invest its idle money, where it can be sold to the citizen and benefit from its money."
He added that "the budget contains an explicit text that allows the Ministry of Finance to sell state property, and the private sector can take advantage of that, especially private banks, which will provide the state with substantial revenue."
He indicated that "the Ministry of Finance has the ability to schedule the loans that Iraq owes, and the ministry can return the debts of the oil licensing rounds or by compensating the oil companies with additional investments."
He explained that "Iraq is rich in a group of idle properties that can supply the country with great revenues." Pointing out that "resorting to reducing employee salaries is part of the solutions, but it is not the most effective alternative, but it is a last resort that can be approached if the government cannot secure its financial obligations."
[You must be registered and logged in to see this link.]