An Economist to NINA: Continuing borrowing for operational purposes brings us closer to an economic and social disaster

Baghdad  The consultant in industrial development and investment, Amer Al-Jawahery, affirmed that continued borrowing for operational purposes brings us closer to an economic and social disaster.

He told the National Iraqi News Agency (NINA) that instead of continuing borrowing, a serious austerity process must begin, with education on all governmental and private levels and the spending behavior of the citizen.

Al-Jawahery added: We do not like to limit the channels of solutions between borrowing and the known methods from outlets, taxes and levies.

He explained that it is necessary to formulate and implement effective development policies and attract local and foreign direct investments, on the condition of serious and rapid work to overcome obstacles.

 

Source: National Iraqi News Agency