By ahad5 View Profile View Forum Posts Visit Homepage 29/07/2019 08:02 PM
Al Ahd News – Follow-up
The International Monetary Fund (IMF) on Monday warned the Iraqi government against continuing what it described as “extravagance”.
“Iraq’s current budget for 2019, if current spending continues as it is, will eliminate any progress Iraq has made economically in recent years,” the fund said, according to the Babel Finance International.
“Expectations indicate an increase in Iraqi spending by 25% annually, unless the government adjusts its financial laws and balance sheet items.”
The IMF described Iraq’s economic situation as “facing serious challenges. Social conditions are low and still severe, post-war reconstruction is slow, growth requirements are very high, institutional weaknesses are very clear, volatile oil prices and geopolitical relations have a big role to play. Conditions of the Iraqi economy. ”