The central bank lends Al-Kazemi’s government 8 trillion dinars

Economy

Borrow

2020-07-29 07:19

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Shafaq News / Parliamentary Finance Committee revealed, on Wednesday, that the government borrowed from the central bank 8 trillion dinars, while it confirmed that the salaries of employees and retirees will become fully insured until the end of 2020.

“The approval of the House of Representatives for local and external borrowing contributed to securing the salaries of employees and retirees during the current months,” the committee’s rapporteur, Ahmed Al-Saffar, told Shafaq News .

He added that “the government went to borrow eight trillion dinars from the central bank, despite the parliament’s approval to borrow 15 trillion dinars from the bank and local banks .”

And Al-Saffar said, “The rise in oil prices will contribute to alleviating the financial crisis in the country. Therefore, the salaries of employees and retirees will become fully insured until the end of 2020.”

And the Iraqi parliament (parliament) approved, on June 24 last, a  draft law that allows the government internal and external borrowing to fill the financial deficit in the country.

Iraq is going through a severe financial crisis due to the drop in oil prices since the outbreak of the Corona virus, which led to fears of the impact of the decline and the lack of revenue on the federal budget for 2020 and the impact of the operational budget and the salaries of government employees and retirees .

Iraq has not approved the 2020 budget so far as a result of the continuous protests since last October, which led to the resignation of the previous government headed by Adel Abdul-Mahdi and its transformation into a caretaker government that is not empowered to send the draft budget budget to parliament.

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