Warning .. Iraq is heading toward borrowing from the International Monetary Fund
Warning .. Iraq is heading toward borrowing from the International Monetary Fund
01/03/2015
BAGHDAD / JD / .. committee recommended economy and investment representative, among the proposals to bridge the fiscal deficit in the budget of 2015, borrowing from the International Monetary Fund, which will lead to a low government spending and raise the price support for public goods and services to the public sector, in addition to raising taxes and fees on public service institutions.
Said committee member Rep. Najiba Najib told / BD /: “The 2015 budget is facing a lot of challenges, the most important of the fiscal deficit of $ 25 trillion dinars,” noting that “this deficit is different from previous years as a real deficit of the fact that the price of oil is installed in the budget by 60 dollars and sold on world markets at less than this price. ”
She added: “The Commission on Economy and Investment parliamentary taken several steps to reduce the fiscal deficit, including borrowing money from local banks Kalravedan and Rasheed and (TPI), as well as borrowing from the International Monetary Fund.”
He said: “There are expectations of an increase in oil prices in global markets from $ 60 to $ 74 per barrel during the first quarter of 2015, in light of the efforts made by OPEC members to avoid the problem of falling oil prices.”
Knows: that borrowing from the International Monetary Fund will lead to interference in the internal policies under the pretext that the Fund ensures the ability of these countries to repay the loan by making the cost-cutting are the removal of subsidies gradually and be away through social justice and who bears the results of that is just a simple citizen.
Among the most prominent demands to give the loan, from this fund, reduce government spending, reduce government intervention in the price mechanism and the movement of the markets, in addition to raising the price support for public goods and services to the public sector, and increase taxes and fees on public service institutions, as there would be a control on the market cash through credit identifying and raising interest rates and exchange rates and the settlement until the devaluation. / End / 8 /
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