Parliamentary committee determines options to address financial distress

Baghdad - INA - Muhammad Talibi

Today, Tuesday, the Parliamentary Finance Committee outlined several options to face financial constraints due to the drop in oil prices due to the Corona crisis.

Member of the Committee, Deputy Muhammad Sahib al-Darraji told the Iraqi News Agency (INA): "There are measures that must be taken to face financial hardship other than internal borrowing or prejudice the reserves of the Central Bank," noting that "among these options is to change the exchange rate and stop imports in addition to stopping Currency auction and other economic measures. "

Al-Daraji pointed out that "if oil prices continue to decline, there must be special budgets, including a crisis budget that is based on a price lower than the price of oil to walk salaries and health matters as well as other important matters," noting that "this challenge must be exploited and transformed into an opportunity of Through opening the door for investment and allowing the private sector to operate. "

 He called on the government to speed up the transmission of the budget in a way that reduces the deficit by reducing costs or by changing the exchange rate.