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Post by RamblerNash Mon Oct 12, 2020 10:18 pm

Economist: fighting corruption and investing in stalled projects ... an important step to maximize non-oil revenues 862043-8306bc0a-dd91-414f-ab98-ff470817c139
Sunday 11, October 2020 13:31
 
Baghdad / NINA / Economic expert Hazem Hadi affirmed that: Fighting corruption and investing in stalled projects ... an important step for maximizing non-oil revenues.

He told the Iraqi National News Agency ( NINA ) that: The white paper aims to carry out economic reforms in all fields in order to secure an exit from this crisis in light of the decline in public resources, especially oil revenues, which constitute 85% of public revenues.

Hadi added: Non-oil revenues must be maximized, whether by fighting corruption in government departments and searching for new resources by investing in stalled projects to cover local needs instead of importing, in addition to reviewing the structure of spending, especially checking, reviewing and fine-tuning the schedules of alien and retired employees. .

He explained that: austerity / diseased / is required now and that restoration of security opens the door to stimulate investment to get out of the recession.

And Hadi continued that: The success rate for this paper depends mainly on faith in it, and it is not necessary to apply it because failure means going towards the unknown.

He stressed the need for parliament to approve borrowing to cover public expenditures, especially salaries for employees and retirees, and public debt and service installments.

It is noteworthy that the white paper consists of two parts, and includes reforms to the financial situation in the country. It will be presented to Al-Kazemi during this week and then to the House of Representatives.

The reforms included in the paper include radical solutions to gradually save the country and stabilize its financial and economic situation.

Finance Minister Ali Abdul-Amir Allawi confirmed in a previous statement that Iraq will move from the traditional budget to the program budget within a year and a half, indicating that the tax rate will not be high, but the citizen will not accept it for not providing the necessary services. / End 3

https://ninanews.com/Website/News/Details?key=862043

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