Economist: Iraq will suffer financially in 2021 budget

by **claud39** Wed Mar 04, 2020 8:12 pm

Economist: Iraq will suffer financially in 2021 budget

03/04/2020

Economist: Iraq will suffer financially in 2021 budget 56727-oil_4-696x463

Information / private ..

Economic expert Saleh Al-Hammash said on Wednesday that Iraq will suffer greatly financially in the budget of 2021, especially if the budget for this year is not voted, pointing out that the population is increasing and adding to unemployment.

Al-Hamash said in a statement to "Information", that "the budget will be a big problem for any future government, especially since the previous governments exaggerated a lot with spending, appointments, allocations, and concessions, even though this spending is called merchandise, which does not bring in financial returns."

He added that "the Iraqi budget has reached a stage in which it is not possible to increase spending, which is what motivated the Finance Ministry to stop bonuses and raises, especially with the reduction of oil production according to what OPEC called for, where it will reduce more than 50 thousand barrels per day, and that Iraq has not reached its production to 3.8 million barrels. Daily".

And that "the budget of 2021 will be more difficult than its predecessor due to population growth that reaches 3% annually, i.e. an average of 800,000 people annually and at a rate of 400,000 working hands entering the Iraqi market from graduates, especially those who reach the legal age for work."

He pointed out the importance of "the quick action of the government to take decisions that would preserve the expenditures of 2020 and 2021, especially that the opposition parties can no longer lend to Iraq after a loan reached the level of (B +) and any loan that will have significant benefits and is not easy as it was in the past six years." .

He stressed the need to "cultivate trust between the government, the international community and the citizen as well and reduce corruption and waste of public money." 25 n ended

https://www.almaalomah.com/2020/03/04/459791/