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41 trillion dinars. Iraqi parliament stunned by three-month borrowing

rocky
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41 trillion dinars. Iraqi parliament stunned by three-month borrowing Empty 41 trillion dinars. Iraqi parliament stunned by three-month borrowing

Post by rocky on Wed 21 Oct 2020, 2:45 pm

41 trillion dinars. Iraqi parliament stunned by three-month borrowing
Economy



 2020-10-21 04:43
  
Shafq News, a member of the parliamentary economic and investment committee, revealed on Wednesday that the amount set in the borrowing law amounted to 41 trillion dinars, saying that the House of Representatives is adjusting this amount.

"The borrowing law so far in the Iraqi parliament is being fully studied," Joudat told The Shafq News, adding that the amount required in the borrowing law is 41 trillion dinars for the remaining three months of this year.

"This figure is huge for a short time, while the amount of 51 trillion dinars has been disbursed for the past nine months, so the House of Representatives will approve the law, but only after it has adjusted the amount," she said.

"The government has already borrowed 15 trillion dinars to cover the salaries of employees, 10 trillion from home and five billion dollars from abroad," Shet said.

The Finance Committee announced on Monday that it had agreed to refer the borrowing law to the parliament's presidency for its first reading.

The Cabinet Secretariat sent the fiscal deficit financing bill to the House of Representatives, which is for internal and external borrowing.

Last month, the government approved the budget bill and sent it to parliament, before withdrawing it again for amendments, to be replaced by the Fiscal Deficit Finance Act to the House of Representatives.

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