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Warnings of the financial collapse in Iraq after the decline in oil prices
10:59 - 20/03/2020
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On Friday, economist Mohammed Attia Al-Saadi warned of the financial meltdown in the coming months as a result of the sharp drop in oil prices.
Al-Saadi said in a statement to "Information", that "the government has several options, the first of which is to put quick plans to squeeze government spending and may reach salary cuts, the second is to raise dollar prices, and the last is to proceed with the sale of some of its properties to the private sector and citizens such as factories, lands, and others."
He added that "the country is on the verge of a financial crisis as a result of the sharp decline in oil prices to below 30 dollars a barrel, after deducting the cost of production and international prices."
Al-Saadi warned of "the financial collapse in [You must be registered and logged in to see this link.] during the coming months in the event of a continued decline in oil prices, as measures must be taken that will adjust the cuff again and find more effective solutions to ensure that the Iraqi dinar does not collapse." 25 n ended
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