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The Federal Government calls on the parliamentary economic to borrow from banksRafidain Bank of Iraq

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rocky
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The Federal Government calls on the parliamentary economic to borrow from banksRafidain Bank of Iraq

Post by rocky on Mon Jun 16, 2014 9:16 am

The Federal Government calls on the parliamentary economic to borrow from banksRafidain Bank of Iraq



06/15/20140 



Tomorrow, Baghdad invited the parliamentary Economic Committee Sunday, the Federal Government to go to banks and borrow them after Parliament failed to approve a budget for the current year, indicating that in the event the Government delayed the payment of certain sums to companies may be condemned by these companies.

Committee member Abdul Abbas estrus for "tomorrow", that "the federal budget is not passed by the House of representatives no more than inflation given that inflation is rising in the presence of additional liquidity, so failure to pass the budget and the POPs will not increase inflation," he said, adding that "there is a decline in inflation, which led to the increase in food prices recently.

"The Government has the right to borrow from banks after the failure of the House of representatives approved the budget, as well as the projects need money," pointing out that "in the event of non-payment of certain benefits for companies will be condemned the Government, so the Government has no choice but to borrow."

Sheyaa said that "If the next budget of the Parliament approved the new Government will reimburse all the amounts borrowed from the banks."

The General State budget for the year was not recognized until now since the Government nearly four months to the House of representatives and is awaiting inclusion on the agenda, while stalling Presidency inserted due to the incompatibility of the political blocs.

Parliament since the beginning of the current session, the 21st of December 2010 so far witnessed disputes and lack of consensus on many vital laws such as the law of parties and the oil and gas Act, and the unified retirement law and the proposed amendment to the electoral law, as well as the amnesty law and the other, confirms that it is subject to the political wishes of the auction leaders parliamentary blocs. 

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