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Parliamentary Economic Committee: 80% of the 2021 budget is in loans
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Member of the Economic and Investment Committee, MP Nada Shaker Jawdat revealed on Sunday that 80% of the current 2021 budget is loans, stressing the necessity of developing a reform austerity budget .
Jawdat said; "Iraqi money was lost as a result of corruption, which led us to formulate a budget of 80% of which it consists of loans ."
Jawdat added that "the loans will tie the country to debts that must be repaid later and with great interest," stressing that "an austerity and economic reform budget must be put in place so that the focus is on establishing production plants that would employ the workforce and provide local goods and materials instead of importing them and perhaps give a surplus to be exported." Out . "
And she continued, "All countries of the world resort to borrowing to establish productive projects, except that Iraq resorts to borrowing for consumption," noting that "all previous and even current budgets are explosive ones, but there is no achievement of them mentioned ."
[You must be registered and logged in to see this link.]
Member of the Economic and Investment Committee, MP Nada Shaker Jawdat revealed on Sunday that 80% of the current 2021 budget is loans, stressing the necessity of developing a reform austerity budget .
Jawdat said; "Iraqi money was lost as a result of corruption, which led us to formulate a budget of 80% of which it consists of loans ."
Jawdat added that "the loans will tie the country to debts that must be repaid later and with great interest," stressing that "an austerity and economic reform budget must be put in place so that the focus is on establishing production plants that would employ the workforce and provide local goods and materials instead of importing them and perhaps give a surplus to be exported." Out . "
And she continued, "All countries of the world resort to borrowing to establish productive projects, except that Iraq resorts to borrowing for consumption," noting that "all previous and even current budgets are explosive ones, but there is no achievement of them mentioned ."
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