No worries about the financial situation in Iraq


11/5/2017 12:00 am

Baghdad / Shaima Rashid

Members of the House of Representatives ruled out the fears expressed by some politicians of the collapse of Iraq economically, explaining that Iraq is a country with large resources and multiple able to get out of the crisis by adopting a system of economic glory and serenity.
Najiba Najib, a member of the parliamentary economic committee, said the financial situation was under control, realizing that Iraq could correct the situation and reform its economic reality.
Najib said in an interview with Al-Sabah that “the financial situation is still difficult, but if oil prices continue to rise, the government will be able to repay the accumulated debt since the previous regime.” The government should start with radical financial reforms that will enable it to provide Money, as well as the measures that are currently working to increase oil revenues and non-oil to address the economic imbalance ».
“The International Monetary Fund is following the steps of the federal financial government, which is important,” she said, adding that “the continuation of austerity policy is important and necessary despite the exit of Iraq from the financial crisis suffocating because the crisis is still in place and the government is in the process of putting measures to exit the current financial situation .
In turn, said the foreign relations member Iqbal Abdul Hussein: Iraq is a country with a lot of resources to enable him to repay his loans if he can benefit from his resources, pointing out that the budget of the country in previous years amounted to imaginary figures.
According to Abdul Hussein, in an interview for “morning”, that the debts of Iraq are divided between debts since the previous regime and other debts resulted from the result of borrowing to fill the budget deficit, noting that these loans will weigh the citizen, but Iraq has a military and security drain and needs to borrow to fill the deficit The budget caused by the fall in oil prices.
She added that the citizen should have a role to be a narrator and here comes the role of raising awareness of the citizen, expressing the hope that Iraq is heading to other ways to fill the budget deficit away from borrowing, such as investment and the activation of border and other resources.
The member of the parliamentary energy committee Zahir al-Abadi said that the government controls the financial situation of the country with the stability of current oil prices, calling for the development of future economic plans to improve the reality of the country.
“The financial situation is arranged according to the financial resources of the country and Iraq is a country that depends on one supplier, which is suffering from low prices, which led to the trend of borrowing and the withdrawal of additional central stocks as well as the war against the dues and the cost of funds All these things led to the reduction of imports of Iraq, noting that the government is pursuing the policy of austerity despite the impact on the economic situation of the citizen.
Abadi added that Iraq today needs to borrow from countries to promote its sectors and the government must take a foreign policy to work to cancel the accumulation of debt, indicating that Iraq needs economic policy and a number of laws away from routine to encourage investment.
Abadi criticized the Ministry of Planning, which did not work to promote the reality of the country, especially that the next phase needs a strategy to promote Iraq.


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