Financial advisor: Domestic borrowing will not affect the Central Bank’s reserves, and there is no intention to increase taxes.
Financial advisor: Domestic borrowing will not affect the Central Bank’s reserves, and there is no intention to increase taxes.
6-23-2026
Information / Baghdad…
Financial advisor Mohammed Mazhar Mohammed Saleh confirmed on Tuesday that the government’s move towards domestic borrowing instead of external borrowing will not affect the Central Bank’s foreign currency reserves, denying that the state will resort to imposing new taxes to overcome the financial crisis.
Saleh told Al-Maalouma, “The decision not to resort to external borrowing will proceed in two directions. The first relies on treasury transfers and the issuance of bank bonds, which the Central Bank manages in the financial market
.” He added, “The second direction focuses on activating collection processes to prevent tax evasion and transitioning to the use of e-government systems for financial collection.”
Saleh reassured citizens that “there are no concerns about increased tax rates, as the current tax system is stable in terms of fixed rates, and work is only underway to improve legal collection mechanisms.”
almaalomah.me
