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An economist to NINA: The state's ability to pay salaries is not impossible, but implementation is difficult

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An economist to NINA: The state's ability to pay salaries is not impossible, but implementation is difficult Empty An economist to NINA: The state's ability to pay salaries is not impossible, but implementation is difficult

Post by RamblerNash Mon Oct 12, 2020 10:19 pm

An economist to NINA: The state's ability to pay salaries is not impossible, but implementation is difficult 862196-d3c621f1-ddf6-4b19-9c96-be5aacaf9782
Monday 12 October 10:49 2020
 
Baghdad ( NINA ) - An expert in economic affairs, Raad Twaij, ruled out the inability of the government to pay the salaries of employees for the coming months.

Twig said in a statement to the Iraqi National News Agency ( NINA ): "In the economy, there is no impossible thing, but it is about the ability to implement," noting: "The ability of the state to pay salaries is not impossible, but the ability to implement is difficult in the current circumstance."

He added, "The mistake made by the decision-maker in the Ministry of Finance is in not expecting a major crisis in order to develop an appropriate financial plan that relieves pressure on the government and on government employees."

He pointed out that: "According to the statements of the World Health Organization, the end of the Corona pandemic is at the gates, in its confirmation that a vaccine will be launched before the end of the year, and therefore this will lead to a revival of the global market, an acceleration in the growth of the global economy, an increase in the demand for oil, and consequently an increase in its prices, as well as reducing reductions. For oil exports by / OPEC + / and the possibility of Iraq returning to its normal export quota before the crisis, which is 3.5 million barrels, and increasing Iraq’s revenues.

He stressed: "Iraq's dependence on oil mainly to finance its economy makes shocks in salaries and financial crises continue, unless we find the necessary means to diversify the Iraqi economy, increase the production base of Iraq and develop the private sector."

He continued, "It is possible for the government to use monetary measures with financial implications through a more open monetary policy and new equilibrium conditions, and temporarily in order to provide adequate liquidity to pay salaries and when the crisis is over, follow a restricted monetary policy to return to the old balance. "/ End 8

https://ninanews.com/Website/News/Details?key=862196

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