Economist: High oil prices will be to pay off debts and installments in the long term
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Economist: High oil prices will be to pay off debts and installments in the long term
by RamblerNash Sat Sep 26, 2020 10:25 am
Friday 25, September 2020 18:37
Baghdad / NINA / A consultant expert in industrial development and investment, Amer Al-Jawahiri said that the high oil prices, if taken, would be to pay off debts and their installments in the long term.
He told the Iraqi National News Agency ( NINA ) that: The government needs to inventory the stalled projects and hold those responsible accountable, indicating that additional money cannot be wasted on projects of this kind.
Al-Jawahiri called on the government to start announcing the opening of tenders for the private sector to complete these projects and make use of the funds for other sectors.
He added that: Under these conditions, there are no revenues that can cover the country's economic needs, infrastructure, service and major productivity in the short term, and the government must focus on salaries in particular until the appropriate atmosphere for internal and external investment is provided.
He indicated that one should not count on a near hike in oil prices, because the additional revenues will go to pay off debts and installments in the long term ./ End 3
https://ninanews.com/Website/News/Details?key=858827
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