An expert shows the economic damage that exhausted the people during the Al-Kazemi government

An expert shows the economic damage that exhausted the people during the Al-Kazemi government

10-27-2022

An expert shows the economic damage that exhausted the people during the Al-Kazemi governmentInformation/special.
Today, Thursday, economist Nabil Al-Tamimi highlighted the economic damage that affected the Iraqi people during the caretaker government, while stressing that the current government’s spending amounted to more than 145 trillion dinars.

Al-Tamimi said in an interview with the Information Agency, that “the current government, despite its constitutional description as a caretaker government, has broad and great powers, including spending powers according to Financial Management Law No. 6 of 2019, which authorized the government to spend equivalent to what it spent in the past year (ie. up to 120 trillion dinars during this year) in addition to the legislation of the emergency support law, which authorized it to spend another 25 trillion dinars,” noting that “the volume of spending represents a large number, and may exceed 145 trillion dinars during this year only.”

And he added, “The general economic situation witnessed economic shocks that faced the Iraqi individual in the period 2020-2022, which contributed to raising poverty levels to approximately 31%.”

And the economic expert explained, “A large segment of citizens was affected during the period of the spread of the Corona pandemic due to social restrictions, the ban had caused those outside the functional environment to accumulate debts and economic damage,” noting that they “suffered for a longer period after the end of these restrictions without there being government responsibility. towards those segments as is the case in the rest of the world.”

And he indicated that “that segment was damaged again when the government and the Central Bank of Iraq imposed a change in the exchange rate of the dollar against the dinar, which contributed to the rise in price inflation by 18%, which put pressure on the entry of those weak and fragile segments.”

He pointed out that “the global monetary easing policies produced global price inflation prior to the European-Russian-Ukrainian crisis, which was referred to by international organizations such as the FAO and the World Food Programme, which caused an increase in the suffering of the poor and middle segments inside Iraq.”

During the period of the caretaker government, the Iraqi people suffered from the wrong economic policies that it had adopted in its government program, the “white paper”, including raising the dollar exchange rate on society.

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