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[size=30]Parliamentary Finance: The rise in oil prices until the end of the year will help address this crisis[/size]
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The Parliamentary Finance Committee confirmed, on Monday, that the rise in oil prices in the global market will give financial abundance to bridge the budget deficit and pay foreign loans.
[size=15]Member of the Finance Committee, Muhammad Al-Shabki, said in a press statement, today (June 21, 2021), that “Iraq resorted to external borrowing, as a result of the drop in oil prices due to the lack of demand for it, due to the Corona pandemic, and the global closure, as well as the popular protests that affected the whole life in the country.” Iraq, which led to a drop in GDP to 47 percent, and the lack of money to pay the salaries of employees .” [/size]
[size=15]He pointed out, "The 2021 budget was a parliamentary insistence not to go to loans, except for development, and from solid companies such as "Siemens and Electric" in favor of the ministries of electricity ."[/size]
[size=15]He explained, "The continued rise in oil prices until the end of the year will give financial abundance to bridge the financial deficit and pay part of the dues of external loans ."[/size]
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