Jamal Cougar: The government needs 20 trillion dinars, not 40 trillion

Iraqi life

The Parliamentary Finance Committee confirmed, on Monday, that the sums requested by the federal government in the draft fiscal deficit financing bill are very large.
A member of the committee, Representative Jamal Cougar, said, "The federal government has requested approval to borrow an amount of 40 trillion dinars to finance the fiscal deficit, and this amount is very large."

He added, "We in the Finance Committee see that the government needs an amount of 20 trillion dinars, not 40, because expenditures need 7 trillion per month, and if we add these sums for four months, they will be 28 trillion dinars."
He added: "If we add 5 trillion to the licensing rounds, another half trillion for the government, and a trillion dinars allocations for the Kurdistan region, the amount will be 24 trillion and a half, to be 36 trillion.

He said, "The government's imports for the remaining four months of this year will be 16 trillion dinars, so it needs approval to borrow 20 trillion dinars only, not 40."

He explained: "We told the government that we will review the law and discussed this issue in the Finance Committee, and we reached a conclusion that the sums in the draft law of financing the financial wage are very large, and we also decided to host the Minister of Finance to discuss this issue."

He pointed out that "the Finance Committee believes that the government needs 20 trillion dinars only, not 40, and if the amount is more than 20 trillion, then these loans will burden the government."

https://iraqakhbar.com/2724442