Former member of parliamentary finance: Iraq will not be able to pay its foreign debt for this reason
Former member of parliamentary finance: Iraq will not be able to pay its foreign debt for this reason
2018-07-28
A member of the former parliamentary finance committee, Rahim Darraji, Saturday, that Iraq at the current stage is unable to repay external loans, indicating that the reason is due to lack of wise management and financial deficits in the budgets.
“Iraq is currently unable to repay its foreign loans of about $ 112 billion because there is no mentality and methodology capable of managing the country’s fiscal and economic policy in a way that will end this chronic crisis,” Darraji said in an interview.
He added that “the other reason is the existence of fiscal deficit in the annual budgets, and this is another obstacle standing in the face of repayment of loans, because every year Mala shows us a deficit in the budget”
Noting that “the loans are not a dilemma for a country like Iraq to issue 4 million barrels of oil a day, but we miss the wise management in this area.”
burathanews.com
