Member of Parliamentary Finance fixing the ceiling of the agreed borrowing from inside and outside
Member of Parliamentary Finance fixing the ceiling of the agreed borrowing from inside and outside
06/22/2020 10:46
Baghdad today – follow up
Member of the Parliamentary Finance Committee, Haneen Al-Qaddou, revealed on Monday (June 22, 2020), the details of hosting Finance Minister Ali Allawi in Parliament to discuss the law of internal and external borrowing, while clarifying a number of decisions issued during the meeting.
In a statement to the semi-official newspaper, Al-Sabah, Al-Kiddu said that the financial and economic situation was discussed at the meeting and solutions were discussed to get out of the financial crisis.
He added, “The Finance Committee asked the government to submit the internal and external borrowing law after submitting a paper on economic reform to the House of Representatives,” noting that “the country needs immediate measures and a strategy for the future to diversify the financial resources to support the treasury.”
Al-Kiddo said, “The meeting decided that the internal borrowing should be around 15 trillion Iraqi dinars from Iraqi banks, and up to 5 billion dollars from the World Bank, and it will be private to complete investment projects. As for the internal borrowing, it will be in favor of operating expenses.”
He stressed that “the borrowing law will be put to the vote after consultation between the government and the Minister of Finance and the House of Representatives,” noting that “the current government cannot pay the salaries of employees without going to internal borrowing,” noting that “the financial committee agreed to have to internal and external borrowing.”
A member of the Parliamentary Finance Committee pointed out that “borrowing secures the salaries of employees, and the government must be effective and exercise influence in border crossings and collect electricity, water and income tax, and it is possible to fill these revenues as part of the financial deficit.”
Yesterday, the Chairman of the Parliamentary Finance Committee held a meeting in which the Minister of Finance Ali Alawi hosted, in the presence of the First Deputy Speaker of Parliament, Hassan Al-Kaabi, to discuss and discuss the internal and external borrowing law.
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