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Economist reveals borrowing risks and stresses: the government is able to provide the employees' salaries

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Rocky


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Economist reveals borrowing risks and stresses: the government is able to provide the employees' salaries




11/18/15

BAGHDAD / Sky Press: Private
Detection economic expert on behalf of Antoine, Wednesday, about the dangers of Iraq borrow from abroad and at home, stressing that the monthly oil sales is able to provide the employees' salaries.

Said Antoine for "Sky Press," that "borrowing Iraq is desirable and very dangerous and will work on fatigue balancing," noting that "the scarcity of revenues and the deficit in the state budget made the government is considering external borrowing or internal through the International Monetary Fund and other organizations, in addition to the clouds bonds to cover the deficit, which the government will soon be issued. "

He added that "the sale of oil did not stop completely the fact that Iraq contracted with markets on that," stressing that "the monthly oil sales will clog the employees 'salaries, Sama and Prime Minister Haider al-Abadi said on more than one occasion that the staff is a red line' salaries can not be surpassed."

And called on the government to "activate the role of industry and trade to reduce dependence on oil and to supplement balancing with money extra," adding that "the International Fund does not accept that lends Iraq, but once I make a study on it and give guidance to reduce the waste of public money and this calls to find other sources of oil to revive the country's economy. "

The central bank announced earlier, its intention to launch a specialized loans to banks amounting to 5 trillion dinars to support the productive sectors.

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