[size=36]The parliamentary finance plans to launch an economic plan to ward off the risks of low oil prices[/size]
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The Finance Committee in the House of Representatives intends to coordinate with the government to launch a comprehensive economic plan to ward off the risks of low oil prices on the country.
Member of the Parliamentary Finance Committee Ahmad Al-Saffar said, "The urgent immediate plan is to review the items of the state's general budget for public expenditures, by deleting what is not necessary, such as delegations and conducting a careful follow-up process for non-oil revenues from border outlets and taxes to squeeze spending and increase revenue."
He added, "We need to reduce dependence on oil and move the actual economic sectors in order not to repeat such a crisis in the future," noting that "Iraq is a rich country and has full sources of wealth, material, human, agricultural, industrial, commercial, tourism, labor and strategic location."
He pointed out that "the committee seeks to transfer oil revenues and invest them in other sectors, and pave the way for the private sector to participate in the state and restore agriculture to what it was in the past," stressing at the same time, "The salaries of employees are a red line and cannot be crossed."
Al-Saffar said that "the recent package of reforms launched by resigned Prime Minister Adel Abdul-Mahdi carried the budget a lot, as the size of salaries increased from 38 to 53 trillion dinars after returning the dismissed to the ministries of interior and defense and providing new job grades in a number of ministries."