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Al-Nusairi: He calls on the parliament to assume its constitutional responsibility and proposes a

rocky
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Post by rocky on Sat 21 Mar 2020, 2:20 pm

  Al-Nusairi: He calls on the parliament to assume its constitutional responsibility and proposes a pre-emptive plan to confront the economy and the epidemic

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Economy News - Baghdad
On Saturday, Samir al-Nusiri, an economist and banking expert, called on the parliament to assume its constitutional responsibility and exercise its duty to confront the crises the Iraqi people are going through in the current circumstance. Mechanisms and decisions that facilitate the implementation of the plan, due to the lack of a full-fledged government in Iraq.
Al-Nusairi said in an interview with "Al-Iqtisad News", that Iraq is currently suffering from complicated circumstances that it has not gone through in its modern history and has been certain since the establishment of the Iraqi state and until the present time for reasons known to all for objective and subjective reasons that cannot be mentioned now, adding that indicators, analyzes and expectations indicate that the country It is undergoing a catastrophic and dangerous political, economic and epidemic turn and requires immediate solutions and proactive remedies.
As the international economic and health reports indicate the continuation of the decline in world oil prices, so that the average price now ranges between (20-30) dollars a barrel, the lowest price in 18 years, and this means that Iraq is in the state of current market prices and oversupply due to the policies of some OPEC countries and a decrease Global demand due to Corona and the economic recession will not be able to sell oil at a rate of no more than $ 20 a barrel, while a draft budget for 2020 adopted the price of oil $ 53 a barrel. This is an indication of the extent of the great damage to the Iraqi economy and the aggravation of the financial crisis that he will suffer during 2020.
Al-Nusairi stressed that this reality, which cannot be quickly and easily overcome, with the high costs of facing the Corona epidemic, which will not allow God to turn into a humanitarian catastrophe in front of the weak health system in Iraq and the lack of public commitment to the instructions and the curfew decided by the Health Crisis Committee, in addition to the lack of a full government The structural imbalance in the economic approach and the failure of all previous governments to not be able to stimulate and activate other economic sectors such as agriculture, industry and tourism to contribute the required amount to enhance non-oil revenues.
Al-Nusairi believes that the repercussions and challenges that the Iraqi economy will face during this year will be significant and requires finding immediate remedies and proactive solutions to mitigate their future effects and can be started by the House of Representatives calling for an extraordinary session to discuss the economic and epidemiological situation in Iraq and issuing binding decisions to the government to implement the pre-emptive plan.
First ‐ Form a crisis cell from the ministers of finance, oil, health, interior, leadership of joint operations, the governor of the Central Bank, the Parliamentary Finance Committee, doctors' and pharmacists ’unions, the
Association of Banks, Industry and Trade Federations, contractors, government economic and financial consultants, and from the private sector, and that the cell possesses the ability, courage, and determination to make critical and central economic decisions. This does not prevent the current health crisis cell from continuing its duties. The tasks of the crisis cell formed by the House of Representatives are: -
Second اعادة- Reconsidering the structure of the general budget and amending its items in light of oil revenues according to the current prices.
Third, cover special allocations for the Ministry of Health to address the Corona epidemic.
Fourth ‐ The government has not interfered in the Central Bank policy and given the full scope to solve the economic crisis in accordance with the bank's current excellent financial position and its previous successful experience in overcoming crises in 2015.
Fifth - the creation of a parallel parallel bank account consisting of government allocations, contributions from the central bank, the private sector, federations, sectoral organizations, businessmen, investors, companies, subsidies and international aid. It is managed by the entity that the crisis cell calls
and re- spends on the most sensitive aspects, recycling savings and according to exchange priorities and the development of oil revenues monthly .

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