MP Masoud Haidar, Iraq’s foreign borrowing to the failure of successive Iraqi governments after 2003 in dealing with the management of the Iraqi economy and financial management rationally.
“Despite the high prices of oil and explosive balances in 13 years, Iraq has not been able to build a strong economy and solid infrastructure that will contribute to improving the economic situation of the Iraqi people,” Massoud said in a statement received by the news agency.
He added that the annual revenues were more than 100 billion dollars and the infrastructure of an important city such as Basra, which is the artery of the Iraqi economy and the most important source of revenues of the Iraqi state, has not been built.
He pointed out that this policy of economic and financial error forced Iraq after the advent of the call and low oil prices since mid-2014 to resort to external and internal borrowing is necessary for the government to pay the salaries of employees and retirees and self-financing companies that are supposed to secure salaries of its own product, Secure the cost of the war on terror.
Otherwise, the fate of the Iraqi state would collapse.
He said that Iraq did not need to borrow until 2013 because there was a surplus of funds in the annual budgets of billions of dollars and it was better to invest surplus in projects that increase the revenues of the state, but that did not happen.