A deputy confirms: The government’s steps to benefit from the surplus oil revenues go to strengthen the cash reserve
A deputy confirms: The government’s steps to benefit from the surplus oil revenues go to strengthen the cash reserve
Wednesday 30 June 2021 | 02:56 PM
After the outbreak of the Corona pandemic and its impact on the global economy, Iraq was also affected economically, which prompted the government to borrow from the central bank and thus decreased the cash reserve of the central bank, which means that the government has to compensate for the shortfall in the cash reserve, which is what the government actually started with with the high prices oil. Representative Jamal Cougar says, so far, the government’s steps to benefit from the amounts of the increase in oil revenues are to enhance the bank reserves, as it has fallen to very low levels from 82 billion dollars to less than 55 billion dollars, adding that it is now being strengthened and I think it has reached more than 60 billion dollars. As for the second reason for excluding presenting a supplementary budget, MP Cougar continues, that this budget needs to be prepared and then sent to the House of Representatives, and the House needs to hold sessions in the Parliamentary Finance Committee with the participation of the rest of the committees, communicate with the ministries, make a first reading and then a second reading and vote on it, we believe the government She will not go for this option while she is now busy preparing a draft budget law for 2022, stressing that preparing the supplementary budget needs time to prepare, discuss it in the parliament and vote on it, and we are heading to elections, which have become the preoccupation of many deputies nominated for an upcoming election cycle, thus completing the quorum and reading the draft The budget law is a first and second reading and voting on it needs to complete the quorum. I think this is very difficult in the next stage. Finished 3 Source: PUKmedia
aynaliraqnews.com
