The Finance Committee confirmed, in the House of Representatives, today, Wednesday, that Iraq’s need for external borrowing is contingent on the work of large companies, in the field of electricity.
A member of the committee, Muhammad al-Shabaki, said in a statement "special to the National News Center", that "Iraq does not need external loans and can use some internal loans with few benefits to benefit from them in electric power projects exclusively."
And that "the great benefits imposed on foreign loans are very large, in addition to their long-term cumbersome effects for the Iraqi economy."
And Al-Shbaki said, "Iraq's foreign loans are contingent on the work of large companies in the field of electricity, which impose financial loans on the government from their countries to invest in Iraq," adding that "Iraq's need for loans depends on the nature of the state's financial policy as well as oil prices in the markets."
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