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Warnings of the collapse of the Iraqi economy in the 2020 budget
09:59 - 18/10/2019
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The parliamentary Finance Committee warned on Friday of the collapse of the Iraqi economy as a result of the wrong policies in the country, noting that the budget deficit in 2020 if it reaches 40%, the economy will be in a state of collapse.
Committee member Naji Redis said in a statement to the information, that "the investment budget for Iraq go to oil and electricity companies and payment of gas debts and the development of regions to provide services and infrastructure of the provinces, and therefore that [You must be registered and logged in to see this link.] since 2004 and to this day did not support any production line."
He added that "the government has provided only 500 billion dinars to support the large port of Faw to be completed, and this confirms that the state is dead clinically and can not make any serious steps other than promises."
He explained that "the price of a barrel of oil in the budget of 2020 will be calculated according to future estimates by providing economists their vision in this regard after several visits and meetings in various countries around the world on the economic situation, where the future price per barrel is estimated at 50 dollars at a time when [You must be registered and logged in to see this link.] oil exports do not exceed 3 million and 800 Thousand barrels. ”
And that "the fiscal deficit in the budget in the event of exceeding 40%, the Iraqi economy is in a state of collapse, as it will also collapse in the case of internal debt reached 60% of the budget."
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