No worries on the financial situation in Iraq

No worries on the financial situation in Iraq

5/11/2017 0:00

No worries on the financial situation in IraqBAGHDAD / Shaima Rashid ruled out members of the House of Representatives fears expressed by some politicians from the collapse of Iraq ‘s economy, pointing out that Iraq is a country with large and multiple being able to get out of the crisis and the adoption of the glory of the sober economic system resources. Said a member of the parliamentary Economic Committee, Najiba Najib: that the financial situation is under control, that Iraq can afterthought to remedy the situation and the reform of the economic reality. She explained Najib, in an interview »Sabah», that « the financial situation is still difficult, but if oil prices continue to rise, the government will be able to pay off the accumulated by debt since the former regime», indicating that the «government to start radical financial reforms to enable them to provide money, as well as procedures that are currently working to increase its oil and non – oil revenues to address the economic imbalance ». It said Najib that « the International Monetary Fund following the steps of financial federal government , which is important», noting that « the continuation of an important and necessary austerity policy despite the Iraq out of the suffocating financial crisis because the crisis is still present and the government is developing enough to get out of the current financial situation measures ». In turn, he said a member of the Foreign Relations Iqbal Abdul Hussein: Iraq has a lot of resources enable it to repay its loans if a country was able to benefit from its resources, pointing out that the country ‘s budget in previous years amounted to fictional figures. According to Abdul – Hussein, in an interview with the “morning”, that Iraq ‘s debt is divided between the previous debts since the former regime and other debt incurred as a result of borrowing to fill the budget deficit, noting that these loans will fall upon the citizen but Iraq has a military attrition and security and needs to borrow to bridge the deficit the budget caused by the decline in oil prices. He said Abdul – Hussein said that the citizens have a role to be sergeants and here comes the role of awareness of the citizen, expressing hope that Iraq is moving to other ways to fill the budget deficit away from borrowing such as investing as well as activation and other resources of border crossings. As between the Energy Committee member of the parliamentary Zaher al – Abadi said the government controls the country ‘s financial situation with the stability of the current oil prices, calling for the development for the advancement of the country ‘s future economic plans. Ebadi said in an interview with the “morning”: that the financial situation is arranged according to the financial resources of the country and Iraq is a country dependent on a single supplier of oil , which suffers from lower prices , which led to the trend Nhz borrowing and the withdrawal of an additional central stocks as well as the war against Daesh and its cost of funds all of these things have led to reduced imports of Iraq, noting that the government ‘s past policy of austerity despite its impact on the economic situation of citizens. Abadi said that Iraq today needs to borrow from countries to promote Baktaath and therefore the government should take a foreign policy that works to cancel the accumulation of debt, noting that Iraq needs an economic policy and a number of far from routine laws to encourage investment. He criticized Abadi , the Ministry of Planning , which did not work for the advancement of the country, especially as the next phase needs to be a strategy for the advancement of Iraq.

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