BAGHDAD / Sky Press: Parliamentary Finance Committee suggested, on Tuesday, the country's vulnerability to financial bankruptcy in the coming period.
Ahmed said in a press statement followed the "Sky Press," 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 re-Iraqi hopes 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 "borrowing decree and planned But how are countries that are borrowing them and the interest rate."
He said "some of the companies agreed to lending, but by more than 12% of what Aaa to the collapse of the economy fully", stressing the need to "be the benefits of borrowing less harmful to the Iraqi economy, but if the benefits are more than good Iraqis conjoin to other collapses" .
Iraq and many countries in the world is witnessing an economic crisis, as a result of falling oil prices, the global stock market, below $ 48 a barrel, after it was $ 110.
Iraq relies, by 85%, on oil as well as Iran and Russia Almtdharran biggest with Iraq in lower prices, as a result, the Iraqi government was forced to announce, an austere operations, in general in the country in an attempt to fill the budget deficit, as well as the government announced Iraq, reducing the Council of Ministers' salaries 50%.
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