Shybaby: Mazhar Saleh: Al-Kazemi’s government will launch the first package to revive the economy
Baghdad – people
On Thursday, Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Saleh, revealed the existence of packages of measures to revitalize the national economy.
Saleh said in a statement to the official agency, followed by “Nass”, (May 7, 2020), that “there are packages of important measures to revitalize the national economy,” noting that “the first package of them includes the adoption of small loans for young people on very soft terms, as well as large private loans In the areas of agricultural activity, manufacturing, and services, especially as they are income and revenue generating.
He explained that “this initiative represents the integration of the monetary and financial policies of Iraq towards building economic stability and strengthening markets in addition to advancing sustainable development paths and raising levels of employment and use and combating recession.”
Saleh added that “the package will go out as a priority to revitalize the agricultural movement in fundamental aspects, including facilitating the acquisition and acquisition of agricultural lands, supporting agricultural production and agricultural technology, and in accordance with the requirements of strengthening Iraq’s food security and advancing national agriculture.”
He continued, “The first package will be taken over by the Al-Kazemi government to support the macro economy and the national market and move the state apparatus more efficiently.”
Expectations indicate that Iraq may witness an annual performance that is the worst for the country since the overthrow of Saddam Hussein’s regime in 2003, especially since Baghdad is currently considering the possibility of deduction of huge public salaries, in a move that will receive popular rejection and may renew the wave of protests with a new government taking over .
According to a report published by the French news agency, and followed by “Nass” (May 7, 2020), the GDP of Iraq is expected to decrease by 9.7 percent this year, and poverty rates may also double, according to the expectations of the World Bank, making this the worst annual performance The country since Saddam Hussein was toppled in 2003.
The second largest producer of OPEC was affected by a double blow, firstly by the collapse of oil prices, and secondly by the Covid-19 pandemic, which dramatically affected its oil revenues.
And Iraq’s oil revenues last month reached 1.4 billion dollars, less than a third of the four and a half billion that the country needs per month to pay public sector salaries, compensation and government costs.
That is, the Iraqi government suffers every month from losing $ 3.1 billion in oil revenue.
In the face of this crisis, officials may put massive payrolls on the deduction list, according to two senior officials involved in discussions to suggest solutions.
The basis for salaries is more likely to remain the same, and austerity measures will extend to the large “allocations” that made up two-thirds of the $ 36 billion budget for salaries in 2019.
These allowances include rewards or benefits such as cars and homes, based on factors that include seniority, educational level, children, or informally political and family relationships.
An Iraqi official says that “the cuts we are studying include reducing the allocations of high-ranking public officials by more than half, the average level by 50 percent, and the low level by about 30 percent.”
The government will also consider freezing recruitment and promotions, cutting military spending, and stopping maintenance of government buildin
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