Economist: Iraq will go through a difficult economic stage due to the drop in oil prices ... and the government should use the emergency budget
The economist warned Malath Al-Amin, from a very difficult economic stage that will pass through the economy of Iraq under conditions of recovery from Corona, calling on the government to use the emergency budget.
The Secretary said in a press statement that [You must be registered and logged in to see this link.] markets are under pressure in light of the decline in demand for crude due to the Corona pandemic and the isolation measures taken by governments to limit the spread of the virus, and the decline came despite the fact that "OPEC +" countries reached an agreement last week to reduce the group's production by about 10 Millions of barrels per day, for the months of May and June 2020 to support the market. ”He
emphasized: The commitment of OPEC + decisions to reduce may stop the continuing deterioration of prices, but in time stages that start from the time China fully regains health and restores its economy in addition to the recovery of European and American countries and this matter Patience requires the end of June and b State of July where the wheels will start the [You must be registered and logged in to see this link.]Spinning and requiring more energy.
He added: At that stage, which is after the middle of this year, [You must be registered and logged in to see this link.] prices will climb as demand increases, so rational and rational policy should be taken by OPEC + that preserves the rights of producers and consumers. ”
He pointed out that [You must be registered and logged in to see this link.] will pass during this stage in a very difficult time under conditions of recovery. From Corona, his government will be asked to use the emergency budget, reduce spending, activate productive sectors, limit import and when the crisis intensifies, he must take a loan from the Central Bank of Iraq and not from banks and international funds, provided that this loan is paid in certain percentages annually to enable him to cross the crisis
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