Parliamentary Finance announces the cancellation of all foreign loans in the 2021 budget

Parliamentary Finance announces the cancellation of all foreign loans in the 2021 budget

Posted, 11/2/2021

Parliamentary Finance announces the cancellation of all foreign loans in the 2021 budget[Baghdad-Where]
The Parliamentary Finance Committee announced, on Wednesday, the cancellation of all foreign loans in the draft budget that was handed over to the government, indicating that any loan that the government will offer during the current year will be rejected.
A member of the Finance Committee, Ahmed Al-Saffar, said, “The last-minute amendments to the 2021 draft budget, according to which all loans made by the government were canceled.”

He added that “what is present in it is only the old loans in effect and we did not agree to any new loan,” noting that “Parliament will reject any new loan that the government offers during the current year unless it is classified exclusively for investment projects.”

He explained that “any loan submitted by the government will be repaid from the proceeds of the investment project and the project remains the capital of the country and Iraq does not incur any debts.”

alliraqnews.com