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BatmaninIraq
07-08-2016, 11:09 AM
Parliamentary Finance calls to speed up the implementation of borrowing to deal with economic crisis


7-8-2016



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Direction Press
Called on the parliamentary finance committee member, on Friday, the government to speed up the implementation of borrowing to tackle the economic crisis.


He said Sirhan Ahmed in a press statement: "We as a Chraeih we voted on the financial budget for the year 2016 when we noticed that there is a budget deficit of about 24 trillion Iraqi dinars, the voting has been on several points to address this situation, including that the government borrowing from the International Monetary Fund in order to be address this shortfall in the budget. "

Ahmed added we are facing a fiscal deficit and the borrowing required to Iraq can address this situation, adding that "the road is open and arrangements exist and the Finance Ministry has the right to borrow from the International Monetary Fund and the government to speed up the implementation of these paragraphs, to allow addressing the economic crisis."

Iraq is going through a financial crisis due to falling oil prices, which constitutes 90% of the public budget is paid to borrow from the International Monetary Fund and the World Bank and earned them about $ 15 billion received by over three years.