Al-Nusiri: Corona’s emergency budget is around $ 50 billion

by **claud39** Tue Apr 07, 2020 8:28 am

Al-Nusiri: Corona’s emergency budget is around $ 50 billion

04/07/2020

Al-Nusiri: Corona’s emergency budget is around $ 50 billion 19956

Economy News _ Baghdad

Economic and banking expert, Samir Al-Nusiri, expected, on Tuesday, that the emergency budget that government agencies are currently studying to prepare in light of the expected oil revenues for the three quarters of 2020 will not exceed $ 50 billion.

Al-Nusairi said in an interview with "Al-Iqtisad News" that the sharp decline in oil prices to 50% compared to its prices before the spread of Corona virus, which Iraq cannot sell its oil by more than (25 (30) dollars a barrel, and this means that our oil resources in the best case will not exceed 40 One billion dollars for the year 2020, and oil and energy experts expect that there will be an improvement in prices after the understanding between Saudi Arabia and Russia and the OPEC production and marketing cuts and measures taken by OPEC countries and other oil producing countries outside the organization. Despite this optimism, the expected prices after the improvement do not exceed 40 dollars per barrel Humiliation I expect that after our budget structure will not to exceed $ 50 billion.

Al-Nusseery demanded that the government and its technical committees end the preparation of the emergency budget in the month of April and be submitted to the parliament and approved by a date not later than next May. This requires the existence of a new government with full powers in order to work to implement the budget and start working with it, proposing the following:

- First
implementing a new program and approach Financial reform begins with reducing public government spending and reconsidering a comprehensive amendment of the government salary scale for state employees to achieve societal justice and exceeding the large disparity between grades and job positions according to the principle of fairly redistributing income that guarantees societal balance between narrators B Higher and lower salaries, based on the fact that the source of income is oil, which is, as indicated by the constitution, that it belongs to the Iraqi people, and this does not prevent the redistribution of salaries in accordance with the responsibility, competence and professional and scientific experience.

Second - Reducing salaries, allocations, and social benefits for the three presidencies, the House of Representatives, ministers, independent bodies, special grades, and their own pension salaries who previously worked in these locations since 2003, and at an equal rate to the rate of reduction achieved in Iraq’s resources in 2020 with a commitment to secure the salaries of employees with lower, middle, and retired borders And welfare.

Third - Securing the allocations for facing the Corona epidemic of the Ministry of Health in Baghdad and the provinces.

Fourth ‐ Securing the amounts allocated to the reform decisions that the resigned government committed to implement the demands of the demonstrators, including with regard to granting benefits to the unemployed.

Fifthly, coordination between the financial and monetary policies to maintain the stability of the exchange rate, maintain the standard adequacy of the foreign monetary reserves of the Central Bank, and avoid external borrowing absolutely.

Sixth: Motivating and encouraging the private sector and involving it in managing the economic process.

Seventh ‐ Stopping the import of semi-essential and luxury items, restricting the import of food ration card materials, medicine and medical supplies, while increasing the food basket for the Iraqi family and building a strategic store of food for at least three months inevitably.

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