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Parliamentary Finance: Iraq on the verge of bankruptcy and significant economic abyss

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Rocky


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Parliamentary Finance: Iraq on the verge of bankruptcy and significant economic abyss




October 27, 2015 46 0


Said the parliamentary finance committee member Ahmed Sarhan, on Tuesday, that Iraq is on the verge of great economic abyss.

Ahmed said in a press statement that "Iraq is on the verge of bankruptcy and significant economic abyss", adding that "the oil revenues that have prevented the collapse of Iraq's economy to a level that leads to bankruptcy."

"We have Iraqi leaders recognize this issue in all its aspects, if not arrest the corrupt and incarcerations and the elimination of corruption and recover stolen money can not be for Iraq to recover from its economic crisis."

Ahmad noted that "the crisis will continue and the situation will continue in the collapse of the economy to the extent that leads to enable the State to perform salaries and distributed only if Iraq has not economic steps strategy serious long-term is on the verge of economic collapse and bankruptcy unless Find corrupt and restore Iraqi money He fled abroad. "

He pointed out that "borrowing of the means of the shortfall in the budget address, a decree under the budget law, which gave power to the Minister of Finance to borrow, but what are countries that agree to borrow because we must find a friendly countries trust the Iraqi economy to be able to borrow."

He stressed that "So far, Iraq has not borrowed to the lack of confidence between borrowers and the Iraqi economy," explaining that "the decree and planned to borrow it, but how are countries that are borrowing them and the interest rate," noting that "some of the companies agreed to lending, but by more than 12% What Aaa to the collapse of the economy fully. "

He stressed the need that "the benefits of borrowing less harmful to the Iraqi economy, but if more than it benefits benefit Iraqis conjoin to another collapses."

And was a member of the parliamentary finance committee Ahmed Sarhan, warned early last September, the country's vulnerability to disaster and comprehensive economic collapse, as a result of lower oil prices and the war on Daash.

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