Parliamentary economy warns of a financial burden on Iraq because of loans

economy Since 12/21/2016 12:22 am (Baghdad time)

Special - balances News
Stressed the economic and investment commission in parliament member Mohammed Abbas, Wednesday, that the foreign loans obtained by Iraq weigh his shoulders, indicating that these loans where the terms and benefits must be adhered to.

Abbas said for / balances News /, "The loans obtained by Iraq from the World Bank or the International Monetary Fund and the conditions and obligations and benefits to be paid and commitment," pointing out that "the increase in foreign loans or interior will overburden the state budget as well as revenue entering the country ".

He added that "there is supposed to be the accounts for these loans to see how to take advantage of them," adding that "the continuation of Iraq in the future on this case Sathaglh loans and arrange the other things Kalfoaid and periodic repayments."

He pointed out that "these loans are used to cover the deficit in the public budget," explaining that "Iraq's budget deficit up to 21 trillion dinars, and this big figure sums need to reduce this deficit."

The World Bank approved a new loan of 1.485 billion dollars to help Iraq to alleviate the weak economy on oil prices and bear the cost of the war against Daesh terrorist gangs.

The Bank approved two loans worth $ 1.2 billion and $ 350 million to support Iraq in 2015.

In July, the IMF approved a new loan agreement conditional on a three-year, $ 5.34 billion to support the efforts of Baghdad to overcome the weakness in oil prices and to ensure its ability to meet its debt burden.

The supreme religious authority has warned Iraq's burdens Emiri loans Alforeigh.anthy 29 n / 10

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