RCD Organizes a Discussion Session about COVID-19 Pandemic Impact on Fiscal Policy
In the beginning, Dr. Kamel Allawi Kazem called for optimism that can alleviate the impact of the COVID-19 on the economic situation of the citizen, citing the increase of oil prices in general, and the announcement about the Russian vaccine against COVID-19 that reflected positively on the oil market. He also stressed the necessity to focus permanently on non-oil revenue consisting of internal oil sales, import fees, tax, levies and border control.
He also pointed out to the lack of economic development plans in Iraq and the lack of financial contexts and laws. Dr. Kamel Allawi Kazem has made a biometric comparison between Iraq budgets for the past five years, reviewing illustrative tables and charts of revenues and expenditures of Iraq. He clarified a number of observations about an imbalance in the state expenditure indicators, as the spending is less than what is allocated, in addition to the significant increases in expenditure rates for some months compared to the preceded ones, which entails more transparency in the statements presented by Iraqi ministries.