Parliamentary Finance: waste of public money behind the economic crisis

02.09.2016 at 12:04 (Baghdad time)

Special - balances News
Parliamentary Finance Committee said on Tuesday that the waste of public money and the lack of economic vision in the management of the country in the last stage and behind the financial crisis experienced by Iraq.

The committee member said Sarhan Ahmed Sarhan's / balances News /, that "Iraq complain of the lack of a clear and long-term economic plans strategy, in addition to the waste of public money, and the existence of corrupt government institutions, is what led to the arrival of this financial crisis."

Sarhan said, "The decline in oil prices is revealed the true face of corrupt and, like the Iraqi capital."

He noted that "the Ministry of Finance has developed plans for the years 2015 and 2016 are present in the budget and of borrowing from the domestic and foreign banking law, but the ultimate responsibility rests with the Council of Ministers as the executive branch, as it implemented and save the country from this crisis."

It is said that the Iraqi government is seeking to retrenchment and the fight against corruption, while other options include borrowing from local sources, such as public banks or even force the central bank to buy government bonds from the Ministry of Finance. Ended 29/38