[ltr]Parliamentary committee identifies options for financial distress[/ltr][/rtl]
[rtl]تأریخ التحریر: : 2020/5/12 13:31[/rtl]
[rtl]704 مرة مقروئة [/rtl]
The parliamentary finance committee on Tuesday outlined several options for addressing the financial constraints caused by the fall in oil prices caused by the Corona crisis.[/ltr]
[ltr]"There are measures that must be taken to address the financial hardship other than internal borrowing or compromising the reserves of the central bank," said committee member Mp Mohammed Sahib al-Darraji in a press statement, pointing out that "among these options is to change the exchange rate and stop imports in addition to stopping the currency auction and other economic measures."
"If oil prices continue to fall, there must be special budgets, including balancing a crisis based on a lower price than oil to keep salaries and health matters and other important things," he said, adding that "this challenge must be exploited and turned into an opportunity by opening the door to investment and allowing the private sector to operate."
He called on the government to speed up the budget and reduce the deficit by reducing expenditures or by changing the exchange rate."
The Parliamentary Finance Committee had earlier stressed the importance of harnessing all efforts to maximize non-oil resources while presenting a number of proposals to the tax and treasury bodies that would increase revenues in order to reduce the budget deficit and improve The Iraqi economic reality.[/ltr]