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Al-Abadi hosts an elite group of economists and financial affairs specialists
Thursday 19, October 2023 00:31 | Economical Number of readings: 506
Baghdad / NINA / The head of the Victory Coalition, Haider Al-Abadi, hosted an
elite group of economists and financial affairs specialists, as part of his
series of weekly meetings with the elites of Iraqi society.
The meeting began, according to a statement from Al-Abadi’s office, by reciting Surat Al-Fatihah for the souls of the martyrs of the Israeli violations in Gaza, and discussing the impact of this situation on the security, political and economic stability of the region.
At the local level, Al-Abadi indicated that the
current financial situation is
good and
there is no problem, but
spending must be controlled strategically.
It is not possible to open many large areas for spending without considering the possibility of a decline in oil prices, which are constantly losing value despite their rise for temporary reasons such as wars.
Regarding the dollar exchange rate, Al-Abadi described the platform’s work as correct, but he added:
“There are unclear and bureaucratic procedures followed by official institutions and the market alike, and this
confuses financial movement and
increases the currency differential, which pushes to the black market and
raises the requirements of living,
especially with... The presence of large amounts of money from corruption sources,
which constitutes an obstacle for the middle and poor classes regarding real estate prices.”
For their part, the attendees discussed economic and financial issues from many aspects, the
first of which was what they described as legislative failures and the
delay in paying attention to the relevant laws,
leading to the importance of financial management infrastructure that avoids deficit and debt.
While they warned of the financial demands of some political parties on investors;
Because this hinders investment, especially by large companies that Iraq needs.
They pointed out the need to
activate the private sector,
develop a special strategy for oil and energy projects, and
create a sovereign fund for all of Iraq. /End 9
https://ninanews.com/Website/News/Details?key=1084660
Thursday 19, October 2023 00:31 | Economical Number of readings: 506
Baghdad / NINA / The head of the Victory Coalition, Haider Al-Abadi, hosted an
elite group of economists and financial affairs specialists, as part of his
series of weekly meetings with the elites of Iraqi society.
The meeting began, according to a statement from Al-Abadi’s office, by reciting Surat Al-Fatihah for the souls of the martyrs of the Israeli violations in Gaza, and discussing the impact of this situation on the security, political and economic stability of the region.
At the local level, Al-Abadi indicated that the
current financial situation is
good and
there is no problem, but
spending must be controlled strategically.
It is not possible to open many large areas for spending without considering the possibility of a decline in oil prices, which are constantly losing value despite their rise for temporary reasons such as wars.
Regarding the dollar exchange rate, Al-Abadi described the platform’s work as correct, but he added:
“There are unclear and bureaucratic procedures followed by official institutions and the market alike, and this
confuses financial movement and
increases the currency differential, which pushes to the black market and
raises the requirements of living,
especially with... The presence of large amounts of money from corruption sources,
which constitutes an obstacle for the middle and poor classes regarding real estate prices.”
For their part, the attendees discussed economic and financial issues from many aspects, the
first of which was what they described as legislative failures and the
delay in paying attention to the relevant laws,
leading to the importance of financial management infrastructure that avoids deficit and debt.
While they warned of the financial demands of some political parties on investors;
Because this hinders investment, especially by large companies that Iraq needs.
They pointed out the need to
activate the private sector,
develop a special strategy for oil and energy projects, and
create a sovereign fund for all of Iraq. /End 9
https://ninanews.com/Website/News/Details?key=1084660
