Parliamentary finance places a condition in front of the government in exchange for allowing borrowing to cover the fiscal deficit
Parliamentary finance places a condition in front of the government in exchange for allowing borrowing to cover the fiscal deficit
20/6/2020 16:55
Baghdad today – Baghdad
On Saturday (20 June 2020), the Finance Committee in the House of Representatives set a condition before the government in exchange for allowing borrowing to cover the fiscal deficit.
The House of Representatives said in a statement received (Baghdad today), that “the financial committee headed by Deputy Haitham al-Jabouri and the presence of a number of members of the committee on Saturday 20/6/2020, hosted the Minister of Finance Ali Abdul Amir Allawi to discuss the economic crisis that the country is going through and ways to get out of it It will continue its discussions on internal and external borrowing law. ”
The statement continued, “Part of the meeting was chaired by the First Deputy Speaker of Parliament Hassan Karim Al Kaabi, who welcomed the Minister of Finance, as he stressed that the parliament is waiting for the government to make real reforms that affect the lives of citizens and do not affect them negatively, as well as that the House of Representatives supports any A reform measure that fights corruption in state institutions. ”
And that “the financial committee has made clear that the government has many solutions and steps that contribute to increasing the state’s resources and providing the budget with large sums other than deducting the salaries of employees and retirees, since the parliament in general and the financial committee in particular reject this idea and is consistent with the aspirations of the people who want to live decent And economic stability. ”
He continued, “The Finance Committee added that the law of internal and external borrowing will be a temporary solution to cover the deficit in the budget, provided that the government is committed to sending the law of economic and financial reform to the House of Representatives in a period not exceeding 60 per day to keep the country away from the specter of financial crises in the future.”
And the committee stated, according to the statement, “One of the most important reform measures that the government must take is to automate customs, control it completely, collect electricity and impose sales tax through a law that enables customs to withhold these taxes before entering the country, as well as offering some self-financing companies to invest. To support the private sector, which will reduce the burden on the public budget and provide job opportunities for many unemployed young people with higher degrees. ”
He pointed out that “the Finance Committee reviewed the letter of the Ministry of Finance – Budget Department – expressed its willingness to add a text within the borrowing law that allows the Ministry of Finance to release funding for the salaries of new hires in the Ministry of Education as an exception to the provisions of paragraph (first) of Article (13) of the Federal Financial Management Law No. (6) of 2019 ”
For his part, Finance Minister Ali Abdul Amir Allawi gave a detailed explanation of “the financial and economic reality that Iraq is going through and the size of the budget deficit and the amount required within the law of internal and external borrowing to cross this crisis,” adding that “the paragraph that the Finance Committee added in the borrowing law regarding government provision The economic and financial reform paper is very important and will work on it as quickly as possible. ”
baghdadtoday.news
