Government Adviser: Huge government spending will waste Iraq, which is the fourth in the world in financial imports

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09-06-2020 08:40 PM

Government Adviser: Huge government spending will waste Iraq, which is the fourth in the world in financial imports

 

 

Baghdad / news

The government’s advisor, Mazhar Muhammad Salih, confirmed today, Tuesday, that Iraq is ranked fourth financially in the field of government economy, indicating that huge government revenues have lost control of the Iraqi economy.

 Saleh said in a statement followed by "Al-Ikhbaria", that "Iraq occupies the fourth position in the field of government economy in the world, but the huge money spent by the government made him lose control of it."

He added that "Iraq needs 7 trillion dinars within the minimum limits to pay salaries and give private money to oil companies and the operation of hospitals and electricity."

 Saleh added, "What is currently included in government revenues does not exceed two billion dinars. Unfortunately, the government must resort to external and internal borrowing to pay the deficit," noting that "the government's intention to limit expenditures will also contribute to providing funds, but it is not enough and other measures must be taken to activate the country's economy." .

It is noteworthy that Iraq is not only one of the oil countries, but was also referred to as Lebanon in several aspects, including excellent quality agriculture as well as industry, where there are hundreds of closed factories, in addition to that it has more than 13 border outlets generating billions of dollars that were not confined to the state .

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Government Advisor: We have withdrawn the funds of the China Payroll Agreement and we have no cash to pay off

10:08 - 09/06/2020

 

Information / Baghdad ..
The government's financial advisor, Mazhar Muhammad Salih, revealed, on Tuesday, the withdrawal of about one billion dollars from the financial storage of the China agreement to pay employees salaries for the current month, indicating that next month there is no financial liquidity and the government will rely on withdrawing liquidity from government banks.
Saleh said in a televised dialogue followed by / information: "The government was forced to withdraw about one billion dollars that was allocated to the China agreement to pay salaries this month, while internal debts were deferred by about one trillion dinars."
He added that "the government has a deficit of about 4 trillion dinars within the minimum spending to pay salaries Electrical stations, hospitals, and ration card items. ”
Saleh said, "Next month, deposits will be withdrawn from the banks of Al-Rashid, the Commercial Bank and Al-Rafidain to pay the salaries in what will be the month that comes without any financial liquidity and urgently to urgent economic intervention." Finished / 25 d