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Parliamentary Finance warns of an "economic disaster."
2016-04-18
Parliamentary Finance Committee, warned Monday, the Iraqi government, which it called "economic catastrophe" if it continued to withdraw foreign currency reserves from the central bank, indicating that the threat and fears of employees' salaries cut still lingers.
The committee member said, "Abdel-Qader Mohammed," that "Iraq is on the verge of a major economic disaster if the Iraqi government continues to withdraw foreign currency from the central bank reserves," noting that "the central bank foreign currency reserves dropped from 80 billion to nearly 50 billion" .
Ahmed said, "The government can not pay the salaries of employees, but we do not know for how long, and thus constant threat cutting employees' salaries," noting that "the best government is the choice to go for foreign loans, and they come with interest rates."
Mentions, that "Iraq is experiencing a severe financial crisis after the fall in oil prices significantly large budget deficit in the year 2016, all of this with a high war on terror to liberate the country expenses."
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