Al-Saadi calls for liberating Iraqi money from American hegemony and supporting the productive economy
Al-Saadi calls for liberating Iraqi money from American hegemony and supporting the productive economy
8-31-2024
Al-Maalouma / Baghdad
Today, Saturday, the head of the parliamentary bloc, MP Saud Al-Saadi, called for liberating Iraqi money from American hegemony and supporting the productive economy.
Al-Saadi stated in a statement received by /Al-Maalouma/ Agency, that “the financial liquidity crisis that recently appeared through the delay in distributing state employees’ salaries is a complex problem that goes back to relying on oil revenues and using them to distribute salaries without relying on supporting the productive economy through supporting productive industrial projects, which made the Iraqi economy vulnerable to major crises, the most important of which is the crisis of lack of financial liquidity.”
He stressed that “there is a clear failure in managing the financial file by the Central Bank in light of the smuggling of currency, while the head of the Rights bloc indicated that the government tried to address the issue but to no avail because the government did not rely on productive development projects, but rather relied on completing projects that do not support the economy, such as building bridges, at a high cost despite their importance.”
He pointed to the need for “rapid measures to address the liquidity shortage, including establishing new mechanisms for currency auctions, regulating the work of Iraqi banks, removing Arab banks, stopping currency smuggling, and increasing state revenues by controlling financial policies and creating a new employment policy for the workforce, as well as holding officials at the Central Bank accountable for their failure to address the crisis of the decline in the value of the Iraqi dinar exchange rate, as well as finding other financing outlets for the state treasury other than oil, especially since global oil prices are threatened with decline.”
He continued, “Temporary solutions can address the crisis temporarily, as the government did in the years of confrontation with ISIS gangs and the decline in oil prices at that time, but the real treatment begins by freeing Iraqi money from the American will, redrawing investment policies, and activating the file of combating corruption and waste of public money.”
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