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Senior Economist: declining oil prices will negatively impact on the standard of living of the Iraqi people
10/12/2014 14:25
Follow-up - and babysit - economic expert warned of the Association of private banks peace Sumaisem, the repercussions of the decline in oil prices on the standard of living of the Iraqi people and deflation affect the overall performance of the national economy.
She explained Sumaisem, in a press statement, said that "there Dgtin affect negatively on the economic resources in Iraq are the low price of oil and the continued increase in military spending," asserting that "the drop in oil prices will lead to a decline in the size of the cash reserves of the country."
It warned that "the continued increase in military spending, with the delay in approving the budget and the decline in oil prices will lead to a combined recession and deflation is expected that will impact on the standard of living of the Iraqi people."
She explained Sumaisem, said that "among the measures required to counter these influences is a reduction of 70% on the salaries of deputies and ministers and advisers and reduce the privileges and social benefits claim at the same time to reconsider the size of the public functions and in particular special grades and open the door for the private sector to assume economic responsibilities much more effective. "
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10/12/2014 14:25
Follow-up - and babysit - economic expert warned of the Association of private banks peace Sumaisem, the repercussions of the decline in oil prices on the standard of living of the Iraqi people and deflation affect the overall performance of the national economy.
She explained Sumaisem, in a press statement, said that "there Dgtin affect negatively on the economic resources in Iraq are the low price of oil and the continued increase in military spending," asserting that "the drop in oil prices will lead to a decline in the size of the cash reserves of the country."
It warned that "the continued increase in military spending, with the delay in approving the budget and the decline in oil prices will lead to a combined recession and deflation is expected that will impact on the standard of living of the Iraqi people."
She explained Sumaisem, said that "among the measures required to counter these influences is a reduction of 70% on the salaries of deputies and ministers and advisers and reduce the privileges and social benefits claim at the same time to reconsider the size of the public functions and in particular special grades and open the door for the private sector to assume economic responsibilities much more effective. "
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