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Economist: Resorting to the private sector is a better option to get rid of the current financial crisis
08:59 - 15/04/2020
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Economist Wissam Al-Tamimi warned, on Wednesday, against continuing to rely on oil to finance the budget, stressing the need to resort to the private sector to invest in government projects according to agreed time periods.
Al-Tamimi said in a statement to / Information /, that "the government can agree with the private sector to grant investment projects according to agreed periods of time with the state obtaining specific percentages of the amounts obtained by the private sector from those projects."
He added that "relying on oil to finance the budget is more like a ticking bomb, as the oil market is unstable and is subject to international paradoxes and global agreements and therefore is governed by state policy and cannot be predicted for its future."
And that “many developed countries were not oil dependent on financing their budgets on investment, the housing sector, tourism, border ports and taxes,” stressing the need to “reduce the salaries of employees whose salaries exceed 2 million dinars and in certain proportions to ensure financing new job levels launched by the government and did not find Sources of financing it after the drop in oil prices. 25 n ended
Economist Wissam Al-Tamimi warned, on Wednesday, against continuing to rely on oil to finance the budget, stressing the need to resort to the private sector to invest in government projects according to agreed time periods.
Al-Tamimi said in a statement to / Information /, that "the government can agree with the private sector to grant investment projects according to agreed periods of time with the state obtaining specific percentages of the amounts obtained by the private sector from those projects."
He added that "relying on oil to finance the budget is more like a ticking bomb, as the oil market is unstable and is subject to international paradoxes and global agreements and therefore is governed by state policy and cannot be predicted for its future."
And that “many developed countries were not oil dependent on financing their budgets on investment, the housing sector, tourism, border ports and taxes,” stressing the need to “reduce the salaries of employees whose salaries exceed 2 million dinars and in certain proportions to ensure financing new job levels launched by the government and did not find Sources of financing it after the drop in oil prices. 25 n ended
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