A- A A +
Shafaq News / The Minister of Finance in the Iraqi federal government, Ali Allawi, revealed on Tuesday the reason for the government’s delay in sending the government reform paper to Parliament.
This came during his hosting of the parliament session, according to what a parliamentary source revealed to Shafaq News.
The source said, “Finance Minister Ali Allawi made it clear during his attendance at the parliament session that the reason for the government’s delay in not sending the government reform paper to Parliament was the lack of completion of the domestic and foreign borrowing law to bridge the fiscal deficit for the year 2020.”
He added that “the government did not borrow any external amount, and only borrowed locally,” noting that “the government disbursed all internal borrowing funds, according to the Minister of Finance.”
Minister Allawi said, according to the parliamentary source, that the government will present the reform paper to Parliament and other concerned parties at the end of this month.
According to Allawi, the government is working to stop the waste of public money at all levels, and that this will be guaranteed in the economic reform paper.
And Iraq had resorted to borrowing to contain the financial crisis that resulted from a significant decline in oil prices during the past months due to the Corona pandemic, which paralyzed large sectors of the world economy.
Iraq relies on oil to finance up to 95 percent of state spending.
Al-Kazemi pledged, upon the formation of his government last May, to carry out reforms in the country that would improve public services in the country, create the atmosphere for early elections, as well as fight corruption.