A scary number of foreign debt on Iraq and warning of its dangers

A scary number of foreign debt on Iraq and warning of its dangers



2019/09/23 8:15

BAGHDAD: The parliamentary finance committee decided not to receive the 2020 budget from the government if it contains a large fiscal deficit, while continuing to hold meetings with the Ministry of Finance to discuss on reducing the deficit and dependence on non-oil revenues.

Chairman of the Committee Haitham al-Jubouri said in a press statement that the budget for the coming year is still in the stages of preparation by the concerned government authorities.

He added that "the government is interested in finding solutions to fill the budget deficit other than oil revenues," pointing at the same time that "can not predict things unless the budget reaches the dome of the House of Representatives."

For his part, member of the Committee, Ahmed Mazhar al-Jubouri, said that `` the Committee has already suspended debts, especially foreign, in the budget of 2019, at a time when there is an obligation to continue the debt as it was present during the war on the ISIS gangs

He explained that "debt, especially foreign amounted to 125 billion dollars," noting that "its survival portends a threat to the economic future of Iraq."

He noted that “20 debt clauses will be in the budget of 2020, after the Committee held with the Ministry of Finance five meetings during the past month, as part of these debts were loans imposed on Iraq by the World Bank,” pointing out at the same time, that the research He continues to find solutions to fill the budget deficit next year. ”

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