Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

Al-Sudani reviews economic solutions to the financial crisis


6ly410
 Share

Recommended Posts

Al-Sudani reviews economic solutions to the financial crisis

Sunday 05 July 2020 

Al-Sudani reviews economic solutions to the financial crisis
 
 
Baghdad / Al-Sabah
 
Independent MP Mohamed Shaya Al-Sudani called on the government to take a number of urgent measures to enable it to fulfill its obligations to employees, retirees and social welfare, as well as address the ration card and crisis cell benefits in relation to confronting the Corona virus.
Al-Sudani stressed that "the important part of the economic reforms is to collect customs tariff fees and protect the product, while controlling the window of currency sales in the central bank," asking about the destination of these funds, and what imports could come to Iraq amid the economic downturn that the region is going through?
He pointed out the importance of "the existence of tax and customs deductions before the exchange of the dollar, to ensure obtaining the right of the state, it is not possible to sell the dollar without revenues to the state treasury and without withholding fees and taxes."
 
Import and production
Al-Sudani pointed out that "there is another economic perspective, which is we have confirmed the inability of the agricultural and industrial private sector to advance in light of the entry of imports, with the absence of full control over the ports, the non-application of standards for standardization and quality control of incoming goods and leniency in the collection of taxes and fees on them." That "the prices of imported goods and products will crowd out the national product and all this requires reform steps to maximize revenue."
Al-Sudani noted the need to "pay attention to the returns of derivatives and extracted crude oil, which will provide large amounts of money, and in light of the current financial conditions, these funds, which amount to 8 trillion dinars, must be invested by setting 10% of the cost of extraction and $ 8 for liquidation and up to 5% for distribution, can be provided from Without raising the price of fuel for the citizen. "
He explained that "revenues are available and were not directed to the citizen, and it can provide quick revenues in addition to reducing the salaries of the three presidencies from ministers and representatives and special degrees and stopping the disbursement of allocations granted outside the laws."
 
Corporate debt
Al-Sudani continued, “There are judicial orders against mobile phone companies to pay about a trillion dinars and it is assumed that these measures are implemented to collect these funds in a way that increases the state’s treasury imports. Recent directions of the government regarding the rationalization of spending. "
Al-Sudani warned of the need to adopt "effective and real steps on encouraging the agricultural and industrial sectors by placing the import curriculum at the table of government producers from companies of the Ministry of Industry as well as private and mixed sector companies and identifying the goods that can be produced so that the government can issue a decision to prevent their import, as well as review the agricultural calendar including It guarantees the preservation of local agricultural products, avoids the damage of farmers, closes the ports and controls them completely. " 
 
Central loans
Al-Sudani stressed "the importance of activating the steps of the Central Bank in granting loans to agricultural, industrial and residential banks, as well as lending to young people looking for work, while loosening the terms of the loans and defining them with the project guarantee."
He believed that "internal borrowing will secure the salaries of employees. As for the external determined at five billion dollars, it should be invested to complete development projects, including projects for investing burned gas and developing the Basra gas project with the company (Shell), which contributes to providing what the power stations need instead of buying Iranian gas in amounts It exhausts the budget, which provides other imports for the budget, and there are projects related to petrochemicals and fertilizers that can generate huge funds on the state treasury, as well as its benefits to society by pushing the wheel of economic development. Stressing that "directing loans to these projects will put the reform process in the direction 
Prope
  • Thanks 1
  • Upvote 4
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.