Economist for / Nina: The budget deficit will continue .. The government must take financial and legislative measures to help stimulate spending

[Mary B]

Economist for / Nina: The budget deficit will continue .. The government must take financial and legislative measures to help stimulate spending

Wednesday 15, April 2020 

Baghdad / Nina / The economist, Safwan Qusai, stressed that the Iraqi budget deficit will continue with oil price rates remaining in the range of $ 30 or less, calling on the government to take financial and legislative measures to help stimulate spending to maintain monetary and economic stability in light of an expected global recession.


Qusai said in a statement to the Iraqi National News Agency ( NINA ) that: despite the OPEC + meeting and the policy of reducing the volume of oil production at the global level by more than 10 million barrels, the magnitude of the impact of Corona virus is still the most affecting the global economy as consumption has decreased The world has more than 20 million barrels, in addition to the implementation of the reduction decision, which will be with the beginning of next May, stressing that the Iraqi budget deficit will continue with oil price rates remaining in the range of $ 30 or less.

Qusai called on the government to "take financial and legislative measures that help stimulate spending to maintain monetary and economic stability in light of an expected global recession. One of the most important of these measures is the pressure of government spending and the presentation of the investment budget for implementation by the regular private sector companies in exchange for leasing these projects by the government in addition to Facilitating the task of financing these companies by liberalizing the liquidity available at public and private banks by granting them sovereign guarantees to encourage financing and moving liquidity outside the banking system towards banks because it will be able in the next stage to preserve the value of money and Occupying it with sovereignly guaranteed investment opportunities, knowing that the volume of liquidity with banks is currently more than 100 trillion dinars.

He pointed out, "This policy will keep Iraq from stopping spending on the investment budget, which can create real job opportunities without adding new debt in the coming periods." / End 8

 

https://ninanews.com/Website/News/Details?Key=823978

[screwball]

Hmmm...increase in purchasing power might do it

[TOMINVEGAS]

....criminal morons!!!

 

[haymon]

Do they really not see it?