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An economist expects a recession in the Iraqi market after the budget is approved

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An economist expects a recession in the Iraqi market after the budget is approved

Economy - 04-01-2021 05:52 PM - Readings: 44962

The economic expert on behalf of Antoine predicted, on Thursday, an economic recession in the Iraqi markets, after the adoption of the dollar exchange rate proposed by the government, in the Federal Budget Law for 2021, which was approved by the House of Representatives during its session held yesterday.

Antoine told "Degla", "The government must complete the stalled projects and pump the sums into the local markets, with the aim of reducing unemployment and poverty," pointing out that

"the first period will witness a reaction as a result of the shock caused by the decision to raise the dollar exchange rate, which led to weakness." Purchasing power".

Regarding the possibility of ending the economic recession, Antoine emphasized that "if the government knows how to manage the economic crisis, it will create new activity,"

noting the importance of "disbursing contractors' dues with the aim of reinvigorating the private sector."

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