Economist: The pension fund is threatened with bankruptcy and a proposal for it in the white paper

Time: 10/14/2020 22:24:43
 
{Baghdad: Al Furat News} The economic expert, Majed Al-Suri, revealed that the retirement fund will soon be bankrupt.

"Soon, the retirement fund will go bankrupt due to heavy borrowing," Al-Suri said, noting that "the reform paper included a proposal to separate the retirement fund from the budget and include tax and retirement all the salary, not just the nominal one."

He added, "The white paper identified the problems and immediate and future solutions and took care of the issues raised, and it is the only one that raised two basic issues (reducing expenditures versus increasing revenues)."

Al-Suri added, "We have expanded operating expenditures to a very large degree, reaching more than 16 trillion dinars as commodity services in the 2020 budget," proposing to "cancel all government expenditures that will save approximately 17 trillion dinars in the budget."

He pointed out, "There are statements by a senior official that he has received a salary and allocations of up to 60 million dinars, and some allocations for officials reach 5 or 6 times."

"The volume of imports in Iraq has reached since 2005 up to 60 million dollars annually, of which 25 million are government imports, 16 million dollars are customs exemptions, and less than 30 million dollars are subject to taxes," he said.

He added, "The reform paper has taken an integrated package of measures that must be taken, and whatever the revenues will not cover operational expenditures," indicating, "113 trillion dinars, current expenditures, and the total oil revenues do not exceed 57 trillion."

Al-Suri stated, "It is not reasonable that the basic salary is 14 trillion dinars, and the allowances are 28 trillion dinars."

Wafa Al-Fatlawi

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