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Strategic center warns of "unprecedented" fiscal deficit in Iraq
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The head of the Akad Center for Strategic Affairs and Future Studies, the academic Hussein Allawi, warned that [You must be registered and logged in to see this link.] will witness an unprecedented financial deficit due to the possible repercussions of the [You must be registered and logged in to see this link.] virus on the global economy.
Allawi said, in an analysis of the political economy summary in the country: “What worries us if the leaks in the 2020 budget is correct is that the fiscal deficit in the budget is $ 48 billion, or 51 billion dinars in the draft budget for the year 2020 compared to the deficit in the public budget for 2019, which It was estimated at 23 billion dollars at the time. "
"We are now facing a big challenge, especially the potential economic consequences of the [You must be registered and logged in to see this link.] virus," he said[You must be registered and logged in to see this link.]In Iraq, the Corona virus will lead to a decrease in imports of the largest buyers of Iraqi oil by 33.40% of all Chinese exports, according to the statistics of oil sales in December 2019, and imports 3.7 million barrels per day from Iraq.
Allawi added that «the new public budget needs to be rebuilt and formulated again, as it was written and prepared with political compliments, with the aim of silencing the demonstrations as they expected, and other unprecedented jobs that the state does not need burdened the budget, and therefore the reformulation of the budget again, and review the decisions of the Abdul Mahdi’s government The latter would restore the country's financial conditions, otherwise [You must be registered and logged in to see this link.] would be facing an unprecedented deficit scenario.
He explained that «the federal budget for the year 2020 will still need a bold financing surgical operation that is not austerity owed by it, but rather the pursuit of financial sustainability with high performance of public finances, i.e. the availability of ways and principles of financial discipline to Iraq without austerity or deprivation.»
Allawi continued by saying, "So we need the new government to be an inclusive national government, and it has a political decision to build a better federal budget for a successful life for Iraq and the Iraqis."
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Strategic center warns of "unprecedented" fiscal deficit in Iraq
[size]The head of the Akad Center for Strategic Affairs and Future Studies, the academic Hussein Allawi, warned that [You must be registered and logged in to see this link.] will witness an unprecedented financial deficit due to the possible repercussions of the [You must be registered and logged in to see this link.] virus on the global economy.
Allawi said, in an analysis of the political economy summary in the country: “What worries us if the leaks in the 2020 budget is correct is that the fiscal deficit in the budget is $ 48 billion, or 51 billion dinars in the draft budget for the year 2020 compared to the deficit in the public budget for 2019, which It was estimated at 23 billion dollars at the time. "
"We are now facing a big challenge, especially the potential economic consequences of the [You must be registered and logged in to see this link.] virus," he said[You must be registered and logged in to see this link.]In Iraq, the Corona virus will lead to a decrease in imports of the largest buyers of Iraqi oil by 33.40% of all Chinese exports, according to the statistics of oil sales in December 2019, and imports 3.7 million barrels per day from Iraq.
Allawi added that «the new public budget needs to be rebuilt and formulated again, as it was written and prepared with political compliments, with the aim of silencing the demonstrations as they expected, and other unprecedented jobs that the state does not need burdened the budget, and therefore the reformulation of the budget again, and review the decisions of the Abdul Mahdi’s government The latter would restore the country's financial conditions, otherwise [You must be registered and logged in to see this link.] would be facing an unprecedented deficit scenario.
He explained that «the federal budget for the year 2020 will still need a bold financing surgical operation that is not austerity owed by it, but rather the pursuit of financial sustainability with high performance of public finances, i.e. the availability of ways and principles of financial discipline to Iraq without austerity or deprivation.»
Allawi continued by saying, "So we need the new government to be an inclusive national government, and it has a political decision to build a better federal budget for a successful life for Iraq and the Iraqis."
[You must be registered and logged in to see this link.]
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