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Foreign debt .. A new challenge threatens the future of the Iraqi economy
BAGHDAD -
The Parliamentary Finance Committee warned on Thursday of the continuation of the Iraqi government to implement the policy of borrowing to meet the deficit in expenditure, likely to be next year's budget more operational than investment.
"The policy of borrowing by the government because of the fall in oil prices has brought the country into a financial crisis suffocating," said member of the committee MP Abdul Qadir Mohammed. "There are major challenges facing the Iraqi economy, including the reconstruction of liberated areas, .
"The economic policy of the country needs to be reviewed according to visions and strategic plans to get out of the current crisis," he said. "The government has not implemented its reform program because of its preoccupation with the war against the terrorist organization."
Iraq is suffering from a major financial crisis due to falling oil prices to low levels. Oil accounts for more than 93 percent of the country's GDP.
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BAGHDAD -
The Parliamentary Finance Committee warned on Thursday of the continuation of the Iraqi government to implement the policy of borrowing to meet the deficit in expenditure, likely to be next year's budget more operational than investment.
"The policy of borrowing by the government because of the fall in oil prices has brought the country into a financial crisis suffocating," said member of the committee MP Abdul Qadir Mohammed. "There are major challenges facing the Iraqi economy, including the reconstruction of liberated areas, .
"The economic policy of the country needs to be reviewed according to visions and strategic plans to get out of the current crisis," he said. "The government has not implemented its reform program because of its preoccupation with the war against the terrorist organization."
Iraq is suffering from a major financial crisis due to falling oil prices to low levels. Oil accounts for more than 93 percent of the country's GDP.
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[You must be registered and logged in to see this link.]
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