Baghdad - INA - Wissam Al-Mulla
The Parliamentary Finance Committee has set, today, Monday, a condition allowing the payment of part of the dues of foreign loans during the current year.
Member of the Finance Committee, Muhammad Al-Shabki, told the Iraqi News Agency (INA): “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 entirety of life in Iraq, what It led to a 47 percent drop in the gross domestic product, and the lack of money to pay the salaries of employees.”
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" for the benefit of the ministries of electricity."
Al-Shabki stressed that "the continuation of the rise in oil prices until the end of the year will give a financial abundance to bridge the financial deficit and pay part of the dues of external loans."
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