Economic parliamentary: borrowing from abroad, an indispensable step but it will not
Article brought in from Holly1 from the Chat Room
Economic parliamentary: borrowing from abroad, an indispensable step but it will not take place without the consent of Parliament
The Commission on the economy of parliamentary and investment, said Tuesday that the government will not be able to Borrow from abroad without the approval of Parliament, while promised that this constitutes "an indispensable step" allocated for the implementation of infrastructure projects and services through payment on credit, called for the need to take into account that Iraq is not a country "bankrupt" and to continue to revitalize the agricultural and industrial sectors and the restructuring of loss-making industrial companies
The member of the Committee, Najiba Najib, in an interview to the (long-Presse), said that "borrowing from abroad is an indispensable step, although it is a negative case in normal circumstances," noting that "Iraq is passing through exceptional circumstances, as a result of the fateful war being waged against terrorism and the decline in world oil prices and is the only supplier of its economy, which led to the suspension of projects and financial crisis. "
She said Najib, there is a "plan for the tabulation of borrowing with the World Bank," indicating that "external borrowing will be for projects payment on credit Browns infrastructure and services, but most future loans amounting to six billion dollars, will be through treasury bonds, but that will be only the approval of Parliament." .
She explained a member of the parliamentary Economic Committee, that "the Commission will examine the issue and show its observations on it", calling for the need to "taking into account that Iraq is not a bankrupt country, and the government embarked on interesting sectors of industry and agriculture, through the allocation of five trillion dinars in loans for small and medium-sized enterprises, and the restructuring of some of the Ministry of Industry and Minerals companies. "
According to Najib, that there is "" 45 profitable company, and 135 losers being rehabilitated for the advancement of their betterment. "
The Cabinet Adviser for Economic Affairs, the appearance of Mohammed Saleh, warned, in (23 August 2015), from excessive borrowing because of the lack of liquidity, while stressing that this would be a "heavy burden" on future generations, called to invest borrowed money in projects generate direct investment income.
The Parliamentary Finance Committee confirmed, in (the thirtieth of April 2015), they are passed to the government borrowing to fill the budget deficit and meet the essential needs in light of the state of war with "terrorism", while showed that Iraq will receive loans worth three billion and $ 400 million of the International Monetary Fund and the World Bank, revealed a tendency to privatize the stalled government projects are viewing investment.
The Finance Minister, Hoshyar Zebari, recently confirmed that Iraq sought to issue treasury Sndt billions of dollars to counter the impact of the financial crisis experienced by, and in collaboration with major international banks.