Financial expert: Iraq will face a new problem at the end of next year
Financial expert: Iraq will face a new problem at the end of next year
2020-11-12
Financial expert Ahmed Barihi warned, on Thursday, the government of a difficult financial problem in the Iraqi balance of payments at the end of next year, and that Iraq at the present time has no real problem, calling for not to launch bids arbitrarily and advise the government to go to two things and abandon the myth of foreign investment if it is not hurt In these two directions.
“At present, the government has no choice but to finance the deficit from government banks, and there is no need for any auction, and Iraq at the present time has no problem and that the real problem will appear at the end of next year if it corrects it by going to two things,” Prihi said in a press statement.
He added that “the deficit in the balance of payments is not derived from local activities, because the balance depends on what it imports from difficult currencies, and Iraq only gets it from its export of oil, and what oil generates is not sufficient to meet the various expenditures.”
Brahe called on the government to “go to two things: to start preparing an investment program for export, and this needs to develop the manufacturing industries, which account for 70% of imports from foreign currencies, and to preserve the non-exit of the currency abroad, as well as interest in mining and developing agriculture to export its products abroad,” stressing the need to “abandon On the myth of foreign investment if it does not fall in these two directions.
burathanews.com
