The parliamentary finance is looking at the internal and external debt repayment mechanism
The Parliamentary Finance Committee confirmed on Wednesday that the rate of transfer and reduction in the budget for the current year 2018 will be the lowest compared to previous years because of the current economic crisis.
"The committee discussed with the officials of the Ministry of Finance and the head of the Audit Bureau, the government mechanism to repay the external and internal debt of 114 billion dollars," said member of the Committee Hossam al-Aqabi. "The government will pay about seven billion dollars as benefits and premiums to international and local bodies."
He added that "the parliamentary committee canceled the tax deduction clause 3.8% of the salaries of employees and retirees," noting that "the proportion of transfers and reduction in the budget this year will be few compared to the budgets of previous years because of the economic crisis experienced by Iraq."