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Parliamentary Finance issues an explanation regarding the approval of the borrowing law and the amount borrowed DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Parliamentary Finance issues an explanation regarding the approval of the borrowing law and the amount borrowed

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Parliamentary Finance issues an explanation regarding the approval of the borrowing law and the amount borrowed Empty Parliamentary Finance issues an explanation regarding the approval of the borrowing law and the amount borrowed

Post by claud39 on Fri Nov 13, 2020 12:47 pm

Parliamentary Finance issues an explanation regarding the approval of the borrowing law and the amount borrowed


11/13/2020



Parliamentary Finance issues an explanation regarding the approval of the borrowing law and the amount borrowed 24264





Economy News _ Baghdad





On Friday, the Finance Committee in the House of Representatives issued a clarification regarding the approval of the borrowing law, once again its objection to continuing to pursue a borrowing policy, while noting that the borrowed amount was reduced from 41 to 12 trillion dinars.

"Despite the great effort made by the Parliamentary Finance Committee to reduce the government spending gap from 41 to 12 trillion dinars in the deficit financing law that was recently approved, we renew our objection to continuing to pursue an alternative borrowing policy," the committee said in a statement.

 On finding real and effective ways and reforms to increase revenues and reduce expenditures, and what motivated us to accept this limit of borrowing is people's livelihood and its strength represented in salaries, grants, subsidies, medicine, support for farmers, provincial projects and other expenditures that we believe are of utmost importance and which are inevitable ".

She explained, "While this law included some applicable legal texts, which we believe may be the beginning of reforming some institutions and financial movements in the short term, we are working on providing an integrated vision for developing quick and realistic solutions to address the economic and financial deterioration they suffer from."

 The Iraqi state called on the government, with its various ministries and institutions, to adopt a policy that adopts economic feasibility as an attempt to achieve self-sufficiency, even if only partially, especially with regard to production or service ministries, and that it does not always make us face two options, either accepting the policy of borrowing or cutting off the livelihood of the people of our great people.





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