Iraq is able to pay its debts and keep it under control

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Iraq is able to pay its debts and keep it under control

Post  Admin on Sat May 06, 2017 8:57 am

06/5/2017 12:00 am

Adopting public money management strategies
Baghdad / Emad Al-Amara

The debtor countries are concerned with managing and controlling the public debt within programs and strategies that make it within the economic capacity. It is dangerous to have no clear picture of how the debt will be repaid and put under control.

On the subject of Iraqi debt, said the academic economist d. Ahmed Omar al-Rawi: Iraq is able to control its debts, if adopted strategy in the management and guidance of public debt, explaining after a slight improvement in oil prices during the current year 2017, the government will be able to pay the budget deficit, which requires Iraq to sell oil at a price not less than 56 Dollars per barrel.

Internal borrowing
The narrator said in an interview for "morning" that the public spending inflexible will make Iraq budget during the coming years with a deficit of not less than 20 percent at best, if the international oil price continues within the current prices, indicating that this will have to borrow internally to fill the internal deficit, Central Bank of the financial reserves may be a risk to the country's economic capabilities in the future.

Adjust spending
"Given the challenges Iraq faces in controlling its financial capabilities and managing its public debt, there must be strict policies and measures in controlling public spending and combating corruption in order to achieve control over its public debt and direct it towards effective growth, particularly in public services. The state may be in control of its public expenditure to achieve economic and social growth and to make the debt under control and within accepted indicators.

Enhanced revenue
Al-Rawi stressed the need to adopt strategies to work on the revitalization of economic sectors to diversify the sources of national income, which enhances public revenues and non-dependence on permanent oil revenues only, pointing to the need to reduce the unjustified spending in the coming budgets and control through tightening financial control and enhance the role of integrity with maximization Public revenues, including taxes in a manner that does not burden the citizen.

He stressed the need to adopt fiscal policies commensurate with the revenues achieved to reduce the fiscal deficit as much as possible, warning against resorting to the reserves of the Central Bank to fill the budget deficit in order to preserve the sovereign reserves of Iraq, and directing the amounts borrowed to finance public service projects to improve their level in the field of electric power and water and health and education services .

The narrator stressed the importance of fighting corruption seriously and activating the role of the judiciary in resolving corruption issues and accounting for spoilers, and benefiting from the international and Arab support provided to Iraq in calling for contributing to the reconstruction of liberated areas. This requires a diplomatic effort of the government supported by uniting in political positions to call the donor countries and restore confidence. For the Iraqi administration in managing the reconstruction file at the donors.


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