Parliamentary economy confirm existence of frozen funds in State Treasury
The parliamentary economy confirm the existence of the frozen funds in the State Treasury Dec 9, 2015
Deputy Chairman of the Parliamentary Committee on the economy and investment, Harith Al-Harthi, Wednesday, the existence of the frozen funds in the State Treasury may help increase profits on Iraq if used correctly, noted that foreign loans and crippling budget investment in Iraq.
Harithi said in an interview that "foreign loans bring profits to the State, which granted Iraq cause upheavals borrowing to banks which provide loans came from profitable area leading to add payments to these loans helping overloading and crippling budget investment."
He stressed "the need to find alternatives by borrowing from the Central Bank at altrikha which is borrowing from international banks," he said, adding "the need to find solutions before resorting to borrowing from the World Bank.
He added that "Iraq has frozen funds in the State Treasury and borrowing it from them under the same conditions as to profits", stressing "the need for these funds to help support the country's economy."