Al-Nassiri calls on the government to take decisive decisions and immediate solutions to the economic crisis
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Economy News - Baghdad
On Sunday, the economist and banking expert, Samir Al-Nusiri, called on the Prime Minister to the resigned government to entrust the Ministerial Council of Economy and economic experts in the government, universities and the private sector to participate in expressing his views and making observations to study and analyze the economic reality in the current circumstance and take decisive and bold decisions and immediate treatments to overcome our current economic crisis.
Al-Nusairi said in an interview with "Al-Iqtisad News" that "in light of the global economic crisis and the Corona epidemic and the indicators that predict the arrival of oil prices to the price of its production and marketing cost and the slowdown in growth in the global economy to less than 1% and the possibility that the world will pass through the effects of the Great Depression in the second half of The year 2020 requires the resigned government and the new government, after its formation, to adopt a unified approach aimed at immediate remedies. "
He added that one of the measures that the government should follow is to prepare an emergency budget based on the expected revenues from the marketed oil for the year 2020 at the minimum price expectations and reduce government expenditures for the three presidencies and the House of Representatives and independent bodies and special grades and pensions for those who previously worked in these sites since 2003 and insurance for the salaries of employees, retirees and social welfare.
He continued that the sums must be secured in the face of the Corona epidemic to the Ministry of Health and the sums allocated to the reform decisions committed by the resigned government to implement the demands of the demonstrators as well as coordination between the fiscal and monetary policies to maintain the stability of the exchange rate and maintain the standard adequacy of the foreign monetary reserves of the Central Bank and stimulate and encourage the private sector and its involvement in Management of the economic process.
He continued that "import of semi-essential and luxury items should be stopped and import should be restricted to supplies of food ration card, medicine and medical supplies, while increasing the food basket for the Iraqi family.
Al-Nusairi stressed the necessity that “the economic decisions of the Ministerial Council of Economy be able to activate the real productive sectors and that industrial policy, agricultural policy and trade policy work in a centralized, coordinated and coordinated approach with coordination of fiscal and monetary policies and that the central goal (economics is in the service of the people) and that activation and restructuring be done Governmental factories and the contribution of the private sector in managing and stimulating Iraqi immigrant capital by restoring confidence in the government and returning to investment in Iraq, and that agricultural land should be for those who grow it, and that the Supreme Economic Council should be formed equally between Government and the private sector is a central body follow-up and will be attended by the private sector is the central motto (centralized implementation and decentralization of implementation) and to be economic as our approach to the Chinese curriculum (socialist) market economy, which will be the pole, which will lead the world after Corona.