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The International Monetary Fund warns Iraq against the current "extravagance." DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

The International Monetary Fund warns Iraq against the current "extravagance."

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The International Monetary Fund warns Iraq against the current "extravagance." Empty The International Monetary Fund warns Iraq against the current "extravagance."

Post by RamblerNash on Mon Jul 29, 2019 11:05 pm

The International Monetary Fund warns Iraq against the current "extravagance."

The International Monetary Fund warns Iraq against the current "extravagance." Doc-p-10

19:08 Last updated

BAGHDAD /

The International Monetary Fund (IMF) on Monday warned Iraqi authorities against continuing what it described as "extravagance".

"Iraq's current budget for 2019, if current spending continues as it is, will eliminate any progress Iraq has made economically over the past years," the fund said, according to Babel Finance International.

"Expectations indicate an increase in Iraqi spending by 25% annually, unless the authorities amend their financial laws and balance sheet items."

The IMF described Iraq's economic situation as "facing serious challenges. Social conditions are low and still severe, post-war reconstruction is slow, growth requirements are very high, institutional weaknesses are very clear, volatile oil prices and geopolitical relations have a big role to play. Conditions of the Iraqi economy. "

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