financial and banking researcher and professional Mustafa Hantoush stressed on Monday that the escalating demanding situations related to running and pension expenses in Iraq require extreme action to bolster the role of the non-public area as a strategic option to assist the countrywide financial system.
Hantoush told dinaropinions.com that “Iraq has the ability to cowl the salaries of state employees, because it exports extra than three.three million barrels of oil in keeping with day, at costs exceeding $50 per barrel.” He talked about that “the real disaster does now not lie in securing salaries, but alternatively inside the escalation of running and funding costs, which require radical and sustainable solutions.”
He explained that “the size of the domestic debt has reached about eighty three trillion dinars, which portends principal economic risks if modern-day regulations hold with out reform,” stressing “the want to stimulate the private area and provide the right financial and legislative environment to create actual activity possibilities, particularly in mild of the excessive unemployment rates among younger humans.”
He pointed out that “the stableness of the exertions market has end up dependent on the presence of a strong and effective non-public zone, in particular in light of the suspension of presidency appointments and the referral of an increasing number of employees to retirement.”
He warned that “the continuation of the cutting-edge situation ought to cause an exacerbation of financial and social crises, which calls for the adoption of effective national strategies to assist the personal area and allow it to play a pivotal function in development.”
