Parliamentary Finance: Parliament will not allow the renewal of borrowing
13:11 - 06/09/2020
[You must be registered and logged in to see this link.]
The Parliamentary Finance Committee confirmed, on Sunday, that the general budget for the next year did not reach the House of Representatives, while it indicated not allowing the renewal of borrowing.
The head of the committee, Haitham al-Jubouri, said in an interview followed by / the information /, that “the House of Representatives is not with the renewal of financial borrowing from abroad or from within, as this increases the burden of the budget,” noting that “Parliament is exerting pressure to present the financial and economic reform paper.”
Al-Jubouri added, "It is assumed that the government will find solutions other than borrowing to increase its revenues through non-oil revenues, such as customs taxes and the collection of services, fees and other chapters," noting that "the draft federal budget law for 2021 has not yet reached the parliament."
The Parliamentary Finance Committee revealed, earlier that the Budget Committee at the Ministry of Finance has begun preparing a draft budget for the next three years, while it indicated that it is awaiting the arrival of the draft budget for the current year 2020. End / 25