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Parliamentary finance seeks to stop external borrowing in the budget of 2019

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Parliamentary finance seeks to stop external borrowing in the budget of 2019

Post by claud39 on Sun Jan 13, 2019 6:36 am


Parliamentary finance seeks to stop external borrowing in the budget of 2019


Economy News _ Baghdad

The Finance Committee in the House of Representatives, on Sunday, sought to stop foreign borrowing in the budget of 2019, and avoid dumping the Iraqi economy in the long and short term external debt. 
"We have a vision in the Finance Committee that continuing the external borrowing in 2019 is a big mistake that will be paid for by future generations. There is no justification for borrowing about $ 5 billion," said Hoshyar Abdullah, a member of the committee. Iraq has a good cash reserve, with other mechanisms that can be used as an alternative to borrowing, such as voluntary savings and revitalization of government banks by raising interest rates for individuals and companies, seeking to increase domestic production and restricting imports of locally available products, Of the solutions followed Such conditions are experienced by countries with economies similar to the Iraqi economy. "
Abdullah explained that "long-term and short-term foreign loans have high benefits, and what was borrowed during the previous years is a serious strategic error," stressing that "the suspension of foreign loans in 2019 is a national step requires the support and support of the House of Representatives."

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Re: Parliamentary finance seeks to stop external borrowing in the budget of 2019

Post by sea ray 1 on Sun Jan 13, 2019 7:20 pm

then how will iraq payback there loans?how will they rebuild there country? not on a tenth of a cent with no real gov in place. the world is catching on to there game of having infedals pay then get out of our country

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