Economy News / Baghdad ...
Committee of economy and investment representative confirmed that the government and private banks suffer from the recovery of loans granted to citizens and investors, supported with a report from the World Bank for Iraq's debt rising by 64%.
Said committee member Nora Salem Albjara in a press statement, that what came of the report of the International Monetary true, given what ails government and private banks of the difficulty in recovering the loans, whether citizens or investors, indicating that government debt has recently increased due to the ongoing battles against Daesh There fear of lack of Iraq is unable to fulfill its obligations to pay the debt because of lower oil prices.
She added: lack of government policy to take advantage of the loans granted in the activation of developmental projects energies and attention to youth and the elimination of unemployment.
It is said that the International Monetary Fund announced that Iraq's debt rising from 32% to 64% of GDP in the period from 2014 to 2016, pointing to a slowdown in credit growth and rising non-performing loans at state banks in 2016.
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