Parliamentary Finance warns of the danger of external borrowing

19:02 05/10/2015

He warned in the Parliamentary Finance Committee member, on Monday, of resorting to external borrowing in the budget next year, pointing out that the size of the deficit is still large and did not put the government has the appropriate remedies in the draft bill.
Said committee member Mohammad Omar, said that "the budget next year contains a large fiscal deficit can not be addressed ratios, but external borrowing, as happened in the current year budget," noting that "the government has not developed appropriate solutions and treatments on the deficit in the blackish the budget bill for next year 2016" .
He added that "the government this year resorted to internal and external borrowing, which form a significant burden on the Iraqi economy," stressing that he "can not allow the government to resort to such a step in the next year because the backlog of loans will double up its effects on to subsequent generations with interest rates great. "
The Ministry of Finance estimated the price of oil rate within the budget in 2016 to 45 dollars and the export of 3.6 million barrels per day, noting that the budget revenues will amount to more than 84 Trliuna and 73 billion dinars.
He called on House Speaker Saleem al-Jubouri, on Monday, to find a plan that "exempt" from the collapse of Iraq, pointing out that the financial inventories for less than what Iraq needs, while stressing the importance of launching an anti-corruption strategy plan.