Economist: Iraq borrow $ 13 billion from Britain

2016-09-24 17:31:00 | (Voice of Iraq) - Erbil

Chief Economist, Salahuddin Kaku, that " the issue of Iraq request from the British

government Mlbg borrow $ 13 billion to cover the deficit in the 2017 budget, is the

talk time on the political scene."

Kaku said that " the issue of borrowing between states or between the government

and partners, banks, unusual and occur in parts of the world, but the problem lies in

the specified time repaid with interest."

Kaku said that "Iraq is suffering from an economic crisis and has a large deficit in

the 2017 budget, and to fill this deficit resort to loans from other countries, where

a request from the British government to borrow $ 13 billion, though I got this loan

will ease the budget deficit in 2017, but remain the big problem in how to repay this

loan. "

Kaku said that " the borrowing process is beginning, but where will spend this

money, and whether this amount would lead to the creation of additional income to

enable Iraq to lift the economy, and then pay on time process, based on the above ,

the Iraqi government must prepare for that."

With regard to the collapse of the Iraqi economy and bringing them to the end

because of the financial crisis, Salahuddin Kaku Abizaid said: "At the moment does

not say that Iraq is reaching its end, because borrowing is limited operation

specified a time is deficit - based state budget for one year, and maybe things will

get better, as well as the economy Iraq, but all this is just a forecast, we do not

know if it was possible to achieve them or not. "

The Iraqi government announced earlier that about 75 percent of the 2017 budget

will go to cover the deficit, to the Iraqi government asked to borrow $ 13 billion.