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Parliamentary Finance warns of an economic collapse if the loans continue DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Parliamentary Finance warns of an economic collapse if the loans continue

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Parliamentary Finance warns of an economic collapse if the loans continue Empty Parliamentary Finance warns of an economic collapse if the loans continue

Post by RamblerNash on Tue Aug 18, 2020 10:40 pm

Parliamentary Finance warns of an economic collapse if the loans continue 22558
08/18/2020

Economy News _ Baghdad

The Finance Committee in the House of Representatives expected, on Tuesday, that the volume of external borrowing of Iraq will reach about 2 billion dollars, warning of an economic and financial collapse in the event of continuing borrowing.

Committee member Abdul Hadi Al-Saadawi said in a statement reported by the official Al-Sabah newspaper and seen by Al-Eqtisad News, that "the committee has set a higher ceiling that cannot be exceeded for external borrowing in the law of $ 5 billion," indicating that "the volume of foreign loans will range from 1.5 billion." $ 2 billion after many countries showed willingness to lend.

Al-Saadawi promised that “external borrowing is the worst for long periods until now,” noting that “the Finance Committee was able to stop borrowing in the 2019 budget.”

A member of the Parliamentary Finance Committee warned of "an economic and financial collapse if borrowing continues."

https://economy-news.net/content.php?id=21472
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