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[size=36]This is what the drop in oil will do in Iraq. An economist offers solutions to overcome the crisis[/size]
Economy | 02:14 - 11/03/2020
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Private - Mawazine News
, the economist Dergham Mohammed Ali saw, on Wednesday, that the drop in oil prices will have a greater impact on the Iraqi economy than all countries in the region.
Ali told Mawazine News, "The economic impact of low oil prices on Iraq will be greater than all countries in the region, as its economy depends on oil revenues absolutely without the existence of practical alternatives other than internal and external borrowing, stopping all existing projects and continuing the reluctance of them and following a policy Austerity extends to all joints of the state. "
He added, "Practical solutions lie in fighting corruption and reducing waste through the entertainment privileges of the political classes and pushing towards activating the industrial development sectors, agriculture and consumer protection."
On Tuesday, the Parliamentary Finance Committee warned of a major economic crisis in the event that quick solutions to the drop in oil prices were not found.
Oil prices fell to their lowest levels in years, after OPEC and its allies failed to reach an agreement to cut production supplies. End / 29 / p
, the economist Dergham Mohammed Ali saw, on Wednesday, that the drop in oil prices will have a greater impact on the Iraqi economy than all countries in the region.
Ali told Mawazine News, "The economic impact of low oil prices on Iraq will be greater than all countries in the region, as its economy depends on oil revenues absolutely without the existence of practical alternatives other than internal and external borrowing, stopping all existing projects and continuing the reluctance of them and following a policy Austerity extends to all joints of the state. "
He added, "Practical solutions lie in fighting corruption and reducing waste through the entertainment privileges of the political classes and pushing towards activating the industrial development sectors, agriculture and consumer protection."
On Tuesday, the Parliamentary Finance Committee warned of a major economic crisis in the event that quick solutions to the drop in oil prices were not found.
Oil prices fell to their lowest levels in years, after OPEC and its allies failed to reach an agreement to cut production supplies. End / 29 / p
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