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[size=55][size=35]Al-Tamimi warns that the government will resort to external borrowing in financing the budget[/size]
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- [ltr] May 08-2020[/ltr]
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Baghdad: Sumer News, Economic expert, Wissam Al-Tamimi, Friday warned of the new government's resort to external borrowing to finance the 2020 budget, pointing out that Iraq can not resort to borrowing by processing the budget and reducing the investment budget. Al-Tamimi said in a press statement that "the government is supposed to approve a normal budget while reducing the allocations of large grades in the state to compensate for oil losses." He added that "the resort of the new government to external borrowing is an unsuccessful step as it will shackle Iraq for decades and impose significant restrictions on it, while the solution lies in reducing the investment budget in addition to the possibility of raising the dollar exchange rate even if by a few percent to ensure that commodity prices do not rise." He explained that "the treatment of the budget must be by stopping some contracts and not launching job grades and postponing them for the next year, provided that the budget situation is addressed and other resources are found to finance it instead of oil."[/size]
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