External borrowing .. Do you solve the financial crisis or increases in complexity?

by **Ponee** Fri May 29, 2015 8:40 am

~ Baghdad / My Day: At a time when the Committee discussed economic affairs Article (2 / II / a) of the Federal General Budget about the version of the external loan bonds Law, deputy confirmed for the National Alliance that the central bank's contribution to tackling the financial crisis experienced by the country avoids external borrowing and harsh conditions.

"While the Finance Committee member said that the current crisis can not be solved through the posts just international economic conferences, and must be legislation supportive laws for the private sector and activating important economic sectors .oakdt Committee on Economic Affairs its fifteenth session under the chairmanship of Deputy Prime Minister example, has typically Nuri Shaways to discuss the article (2 / II / a) of the Federal General Budget about the version of the external loan bonds and the envisaged results from the issuance of those securities law .ozkr statement to the Committee that "the meeting discussed during the meeting the positive impact resulting from obtaining a credit from the rating agencies rating International to support the economy and the construction and reconstruction in Iraq by increasing the financial resources of the state derived from these bonds.

"The statement added," The meeting was attended by Chairman of the Committee on Economic Affairs and the membership of ministers (finance, planning, commerce, agriculture) and Chairman of the National Authority for Investment and Advisor to the Prime Minister for Economic Affairs and the Deputy Secretary General of the Council of Ministers of Finance and Administrative Affairs and the Director of the Legal Department of the Office of the Prime Minister. "

The Committee also hosted both the Chairman of the Finance Committee House of Representatives Ahmad Chalabi and head of the economic and investment commission Jawad al. In the same context, the National Alliance MP Ammar Tohme said, "The central bank's contribution to tackle the financial crisis avoids external borrowing and harsh conditions." He added in a statement that with the lower oil prices and the adoption of the Iraqi economy, mainly it as a source of imports, many of the important projects and public services and the provision of job opportunities, been negatively affected by these conditions, pointing out "that the use of the state to impose taxes, followed by higher prices and lower real income of the citizens level, not a sound It includes problems and the emergence of a broad social suffering. "

He added that" borrowing from international organizations to adopt (the International Monetary Fund and the World Bank) will impose conditions on Iraq may be reflected on the citizen and the burdens and prices doubled it. "He explained," The tasks of the central bank to contribute in addressing the economic crisis and support the development, calling for "the withdrawal of funds from the reserve balance of the amount, which does not affect the stability of the local currency, so that we can by those amounts of make up the shortfall in revenue and employ them in the completion of the investment activity in and the productive sectors and the operation and development of public services sector state-owned factories and contributing to the launch of appointments for graduates and the unemployed "He called Tohme to" that accompanied these measures of support to build a base for strategic industries such as steel mills and steel and petrochemicals and agricultural sector directing "the To that said member of the Finance Committee, Masood Haider said the financial crisis current can not be solved through international economic conferences posts only, calling for legislation supportive laws for the private sector and activating important economic sectors.

The MP said the Kurdistan Alliance Haider in a press statement: "The economic situation in Iraq suffers from a lack of managed properly and not to activate the important laws and apply them to the ground," he said, adding: "The Government's preoccupation with the political situation and leave the economic situation, stocks Ptazem financial situation and increase the proportion of the deficit in the state budget ", stressing Haider, said that" Iraq's participation in the fourth Economic Forum at the Dead Sea was a political post more than being economic, and expressed the political and security situation in Iraq did not address the economic situation, "calling to benefit from economic conferences subtracting investments on international companies and attract investment in the country. "It is said that Iraq participated last Friday in the World Economic Forum at the Dead Sea in Jordan, as well as Arab and international countries.

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