Virtue political bloc calling on the government to review foreign borrowing and the lack of urgency
Virtue political bloc calling on the government to review foreign borrowing and the lack of urgency
10.03.2017 at 12:54 (Baghdad time)
BAGHDAD – balances News
Virtue expressed parliamentary bloc, on Friday, objecting to continue external borrowing, and as a major source to cover the deficit in the current year’s budget, as it called for a review of the policy of borrowing and the lack of urgency to borrow for future plans.
The bloc chairman Ammar Tohme said in a statement received / balances News / copy of it, “We reiterate our opposition to continued external borrowing as the main source to cover the deficit in the 2017 budget, especially as oil prices rose markedly from what it was the time of the preparation of the general budget.”
He added that “the objection increase when borrowing amounts are very large, as is the case in the British loan that exceeds $ 12 billion, and actual need to borrow most of the fact that the amount of non-existent premium mentioned to finance projects in this year does not exceed $ 500 million.”
He continued, “The rest of the loan scheme to benefit from it in the long future years, an issue linked to and influenced by oil prices and the ability to develop other non-oil budget resources and pressure and rationalization of expenditures on the basis of priority and essential need and taking into account the sum of these factors may no longer needed, or much less to borrow external, “pointing out that” this calls for a review of external borrowing policy and not rush to borrow for future plans, not actual needs of real-time lobbyist “./ ended 10 N.
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