University of Basra holds an electronic economic seminar on "the future of the Iraqi economy during the corona crisis and oil

The college of Administration and Economics at the University of Basra worked an electronic economic seminar on "the future of the Iraqi economy during the corona crisis and oil.

The seminar aims to focus on  the negative effects for Corona  on the Iraqi economy and global oil markets.

Including the seminar presented by Prof.Dr. Nabil Al Marsoumi and Prof.Dr. Yousef Abd Ali Al- Asadi, A lecturers  in the of Economic of the department , six axes : take up the first axis An analysis of the reality of the Iraqi economy and the second axis clarity  the importance of oil in the Iraqi economy and explained the third axis of the negative effects of Corona in the Iraqi economy while the fourth axis take up the negative effects of the global oil markets and discussed the axis V negative impacts of dual trauma in the Iraqi economy and finally spoke the sixth axis about the future of the Iraqi economy during  Corona and oil.

The researchers called in the seminar  that an integrated package of short-term procedures must be taken to mitigate dual trauma and reduce its economic and social cost, which could be made up from:

1- Organizing a crisis balancing over a scheme oil price is not more than $ 25 a barrel and overhead programming after being pressed and then regulate the priorities of exchange for important spending, such as salaries and health spending to face  the Corona and the ration card to be within public revenue available monthly.

2-The provisions of control over border ports are not only to maximize customs fees  but also to support the local product, especially for goods that have local alternatives.

3-The need to work through administrative and economic reform to increase public corporate profits and increase the assigned ratio of the Ministry of Finance to maximize non-oil revenues. Taking advantage of the profits of self-financing companies that do not fall within the general budget, as well as the need to increase all non-oil revenues that currently do not exceed $ 7 billion a year.

4-The need to work on the creation of an effective social protection system and as possible to provide cash subsidies to support poor social category from unemployed and employees with daily wages and the general poor those who have been brought because of the full restriction due to the health measures to face Corona pandemic.

5-The importance of developing the health system in Iraq and achieving self sufficiency in health products.

6-Emphasize the importance of adapting to post-Corona world in relation to air conditioning with trends and remote education, as well as government services such as passports, tax and courts