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“Borrowing” threatens the fate of the budget and warns of an economic “collapse”

rocky
rocky
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“Borrowing” threatens the fate of the budget and warns of an economic “collapse” Empty “Borrowing” threatens the fate of the budget and warns of an economic “collapse”

Post by rocky on Fri 11 Sep 2020, 7:18 am

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[size=35][size=35]“Borrowing” threatens the fate of the budget and warns of an economic “collapse”[/size]
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2020-09-11 | 05:07
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On Friday, MP for the State of Law coalition, Abdul Hadi Mohan Al-Saadawi, suggested that the federal budget for the remaining months of this year would not be passed, in the event that it included a government desire to borrow 27 trillion dinars, while warning of the risk of a "collapse" in the Iraqi economy.


Al-Saadawi said in an interview with Al-Sumaria News, "What was rumored in the Council of Ministers about the existence of a budget for the remaining three months of this year, an attempt by the government to obtain borrowing with legal cover," indicating that "Parliament previously voted on the internal and external borrowing law, and today the government also demands By borrowing, this will lead to the collapse of the country's financial policy, and the Iraqi economy will collapse completely. "






Al-Saadawi added, "The sums that the government placed in the remaining budget for the current year amounted to about 27 trillion dinars, which is a very large amount in the issue of borrowing, especially that we owe nearly 160 billion dollars to international and domestic banks," pointing out that "[You must be registered and logged in to see this link.] He will not be able to advance his economic situation, and he will become a politically and financially floundering country and depends on the payment of international bank dues. ”

He added that“ the government should not resort to internal and external borrowing, and that its operational budget should depend only on oil and non-oil resources, ”stressing that“ in case the government comes with a budget To the parliament where the borrowing of 27 trillion dinars, I think that Parliament will refuse to vote on it, in addition to the financial management law in force obliges the government at this date to send the budget next year and not the current one. 

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