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On Thursday, the Parliamentary Commission on Economy and Investment presented the government with 8 measures to manage the financial crisis.
The committee’s statement stated, “The Parliamentary Economy and Investment Committee is following with great concern the low oil sale prices and asking the government to take the necessary precautions to face a global economic crisis that is looming on the horizon.
He added: "The committee requests the government to take a number of measures and decisions through which it can manage the financial crisis, as follows: -
Stopping investment spending and reducing operational spending in all aspects of government activity immediately.
- Agreement with the creditors to postpone the payment of Iraq's external and internal debts until the financial situation improves.
- Obtaining state debts on mobile phone companies and telecom companies.
Stopping the payment of amounts to the investors of the electricity sector.
- Work to enhance government imports and supply the treasury with the region's exports of crude oil and border crossings.
- Reviewing the exchange rates from the Central Bank of Iraq to ensure prices that do not affect the citizen and at the same time secure the salaries of state employees.
- Forming a supreme committee to impose the management of Iraqi treasury funds, and to follow up the ministries, agencies, and institutions that are reluctant to pay the money obligated to collect them for the public treasury.
- Any other measures that the government deems necessary to maintain the hard currency and prevent wastage in spending.