World Bank warns Iraq: You crossed the red line!


BAGHDAD / .. Alliance MP Sairoun Mohammed, said on Saturday that the World Bank informed the Iraqi government to exceed the red line of the level of consumption within the federal budgets.

Mohammed said in a press statement that “the World Bank informed the government to exceed the red line of the level of consumption within the federal budgets,” pointing out that “consumption rate exceeded 25% and this is a serious indicator of the financial situation of the country.”

He added that “raising the percentage of consumption in the budget poses great risks in terms of the inability of the government to recruit and implement projects,” noting that “reducing that proportion needs to activate the private sector and the transfer of budgets from consumer to investment.”

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