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Parliamentary Economy: The government borrowed from the Central Bank of $ 32 billion to cover war
10/08/2017 02:09
Direction Press / Agencies
Confirmed a member of the Committee on Economy and Investment Parliamentary Najiba Najib, on Thursday, the government scrounge from the Central Bank of Iraq $ 32 billion to cover the military needs in the war against the "Daesh", indicating that the rise in oil prices and dependence on non-oil revenues will pay the government's debt to the bank.
Said Najib, in a press statement that "the financial crisis that gripped the country, as a result of the collapse of oil prices and exchange on the war against Daesh, making the government in a difficult position and having to borrow funds from the central bank," adding that "the government borrowed from the central bank 32 billion to cover the state treasury bonds. "
She added that "$ 77 billion, is the Iraqi reserve funds, but borrowing to make it down to 45," pointing out that "oil prices improved and the arrival of the barrel to $ 50, and reduce expenses, as well as the adoption of raising revenue policy through non-oil products, will help to restore reserve funds, which are private funds for Iraqis. "
The International Monetary Fund, take it in a report released him on Wednesday that Iraq is currently facing a double economic challenge is to compensate material losses resulting from the war against Daesh, as well as the decline in production and oil prices, noting that the decline in Iraq's reserves of hard currency from US $ 54 billion at the end of 2015 to 45 billion at the end of 2016.
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10/08/2017 02:09
Direction Press / Agencies
Confirmed a member of the Committee on Economy and Investment Parliamentary Najiba Najib, on Thursday, the government scrounge from the Central Bank of Iraq $ 32 billion to cover the military needs in the war against the "Daesh", indicating that the rise in oil prices and dependence on non-oil revenues will pay the government's debt to the bank.
Said Najib, in a press statement that "the financial crisis that gripped the country, as a result of the collapse of oil prices and exchange on the war against Daesh, making the government in a difficult position and having to borrow funds from the central bank," adding that "the government borrowed from the central bank 32 billion to cover the state treasury bonds. "
She added that "$ 77 billion, is the Iraqi reserve funds, but borrowing to make it down to 45," pointing out that "oil prices improved and the arrival of the barrel to $ 50, and reduce expenses, as well as the adoption of raising revenue policy through non-oil products, will help to restore reserve funds, which are private funds for Iraqis. "
The International Monetary Fund, take it in a report released him on Wednesday that Iraq is currently facing a double economic challenge is to compensate material losses resulting from the war against Daesh, as well as the decline in production and oil prices, noting that the decline in Iraq's reserves of hard currency from US $ 54 billion at the end of 2015 to 45 billion at the end of 2016.
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