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Economy News - Baghdad
The Parliamentary Finance Committee called on the government, on Tuesday, to work on creating new alternatives that enhance the federal budget other than those derived from the sale of oil, due to the danger of the national economy’s dependence on fluctuating oil prices.
Committee member Jamal Cougar said in an interview with the official newspaper, "Despite the multiple sources of revenue other than the developed industry, we are still at the beginning of the road. One of the available elements is religious tourism," adding that "Iraq spends on the tourist and the visitor, while the tourist He himself travels to other countries and spends large amounts of money on his religious tourism."
He went on to say, "We also have agriculture, which is available on thousands of acres suitable for cultivation, and which can be invested in to cover the needs of the local market and the Arab Gulf markets, especially as we import all vegetables from other countries," adding that "other factors that can be benefited are the border crossings, where An important paragraph was included in last year's budget, which is the transformation of Iraq from a country that does not invest in the transit sector to a country whose ports and outlets can be like the United Arab Emirates.
And he continued, "All capabilities and resources in supplying the budget with a variety of sources depend on the government's reforms and procedures, since it promised to be a service government and it must start with reforms, because the current oil prices are not guaranteed and are likely to collapse below $70, which the government is unable to meet." The needs of the citizens, and this may be reflected in the form of popular discontent and new demonstrations, which the government may not be able to contain.”
Added 11/29/2022 - 1:30 PM
Updated 11/29/2022 - 2:28 PM
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