Parliamentary committee determines options to address financial distress
Baghdad – Mawazine News: The Parliamentary Finance Committee identified, on Tuesday, several options to face financial distress due to the drop in oil prices due to the Corona crisis.
According to the government media, member of the committee, Deputy Muhammad Sahib Al-Darraji, said, “There are measures that must be taken to face financial constraints other than internal borrowing or prejudice the central bank’s reserves,” noting that “among these options is changing the exchange rate and stopping imports in addition to stopping the currency auction and procedures Another economic. ”
Al-Daraji pointed out that “if oil prices continue to decline, there must be special budgets, including a crisis budget that is based on a price lower than the price of oil to walk salaries and health matters as well as other important matters,” noting that “this challenge must be exploited and transformed into an opportunity of Through opening the door for investment and allowing the private sector to operate. ”
He called on the government to accelerate the transmission of the budget in a way that reduces the deficit by reducing costs or by changing the exchange rate. ”Ended 29 / A 43