A deputy criticizes the weakness of financial management and warns of excessive government addiction to foreign loans
A member of the Committee for Evaluation of the Government Program and Strategic Planning on the mass of parliamentary deputies Anam [You must be registered and logged in to see this link.] weak financial management, warning at the same time of excessive government addiction to foreign loans.
Khuzai said in a statement: The weakness of financial management in the allocation of public expenditure towards investment projects is growing concern, indicating: The investment expenditure did not exceed (5%) of the total public spending, and confirms that the budget is 2019 consumption is as distinct as the budget of 2018 that ended With surpluses in its investment while the current budget was spent in full.
She explained: All this raises the question of the usefulness of external borrowing, which increased dependence after 2014, when oil prices collapsed and oil revenues and other resources in financing the budget, noting that the volume of borrowing by the failure of previous governments (because of corruption and inefficient management of resources ) To invest foreign loans to improve infrastructure and services or establish successful investment projects.
She pointed out that the premiums and benefits of public debt constitute 10% of the volume of current expenditure for 2019, thus crowding out activities and allocations of very important, as evidenced by excessive addiction to foreign loans.
"Therefore, according to the above, the accumulation of [You must be registered and logged in to see this link.] in[You must be registered and logged in to see this link.] Raises concern about the future of future generations, especially as the government continues to inflate the public debt, renewing its call to the Iraqi government to establish funds "sovereign fund for debt repayment" and another for stability and another for generations.
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