19 Hrs
Source:
وكالة بغداد اليوم الاخبارية
Economist Warns on Salary Payments Risks
Economic expert Ahmed Abdul Rabu warns against calls to print money to finance employees' salaries or cover Iraq's fiscal deficit, emphasizing that such measures are both illegal and economically harmful, and pose a threat to financial stability. He believes that printing currency without genuine growth in production or accompanying assets leads to increased liquidity and inflation, which diminish the value of the dinar and weaken confidence in the local currency—especially if it is used as a means to fund government spending. This situation would exacerbate pressure on the exchange rate and impact economic stability. Abdul Rabu calls for sustainable financial and economic reforms, including rationalizing spending, boosting non-oil revenues, developing the tax system, and recovering stolen funds to address the fiscal deficit in a way that ensures exchange rate stability and preserves purchasing power.
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