Parliamentary Finance: The government borrowed from public banks until now 7 trillion dinars

Views 31 Date 06/18/2016 - 19:52

Economy News / special

Parliamentary Finance Committee confirmed that the Iraqi government has borrowed so far from public banks 7 trillion dinars, warning that the expansion of borrowing.

Said committee member Majda al - Tamimi in an interview for "to the economy of News," Iraq is passing through circumstance Mali is very difficult as a result of lower oil prices and a lack of revenue and the absence of development projects that can compensate for oil revenues, prompting the Iraqi government to resort to the internal and external borrowing and this is what recommended its federal budget.

And it showed Tamimi said the government borrowed from the public banks "Since January of this year until last May , " more than 7 trillion dinars, hoping that the government will repay the debt in the form of payments after the increase in revenues , but the government has so far not been able to pay any The amount due to the continuing decline in oil prices and a lack of revenue.

Tamimi said that Iraq continues to borrow will make the state economically weak and collapsed because even in the event of increased revenues and higher prices will make the country pay debts without thinking about how to develop financial resources.

Tamimi confirmed that the internal and external loans owed ​​by Iraq since 2003 , and until last month stood at $ 90 billion.

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