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Parliamentary Finance: $ 128 billion in debt, Iraq


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Parliamentary Finance: $ 128 billion in debt, Iraq

Last updated: July 14 2020 - 1:48 PM
 Baghdad / Iraq News Network - Member of the Parliamentary Finance Committee, Muhammad Sahib al-Darraji, confirmed that the approval of the 2020 budget law was delayed due to the Ministry of Finance for many reasons, including the large budget deficit, indicating that there is a hidden state that impedes the work of the real state and works to destroy the economy of Iraq. Al-Darraji in a televised interview, “Iraq is owed 111 billion dollars and I add 17 billion dollars to it, and therefore we are close to the risk stage and we have not yet been able to obtain other loans. He now has oil imports and after the prices drop, only two and a half trillion Iraqi dinars. As for the other revenue sections such as outlets, agriculture, etc., they represent only 5 percent of the state’s revenues due to mismanagement, and now the government has moved on it and the necessity of tightening control over it has become.He continued that "the reason for delaying the approval of the 2020 budget is the Ministry of Finance, because it says it does not have time to complete it and the budget has a large deficit and the ministry is now busy preparing the budget of 2021, stressing that the failure to approve the budget is incorrect and a big mistake." And about the absence of the final accounts of the budgets of Iraq since 2013, Darraji explained, “The last year in which the final accounts were made is the year 2013 and in the year 2014 the budget was not approved in time and thus the year 2014 became the obstacle for the governments not to complete the final accounts and 2014 is the reason for the delay , Adding that the failure to complete the final accounts causes an imbalance in the state’s mathematical structure.And on the reason for the retreat of the Iraqi economy and the rule of his experience when he was occupying two ministries in the state, which is industry and housing, Darraji stressed, “There is a hidden state within the real state, hindering the work of the state and participating in this hidden state political and economic external and internal, from which Iraq wants a democratic experience Unsuccessful politically and economically, Iraq wants to remain a consumption market. As for the internal parties, there is a group that does not want Iraq to succeed, and there are internal parties, for example, merchants, with the participation of politicians and economic bodies, who want to obtain contracts from the state through deals and then escape and any official who wants to work for Iraq. They show a thousand subjects on it. ”As for the losses incurred by the licensing rounds contracts in oil, he added, “The previous ministries signed with foreign companies operating in oil fields, service contracts, which means whatever the price of oil, the share of these companies is fixed and each barrel gets approximately $ 11, which means Companies per month up to $ 850 million of Iraqi oil revenue, and the price of a barrel four months ago did not exceed $ 40, and these large losses are added to the state’s losses. ”

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Economy News - Baghdad:

The GFP Global Classification Corporation revealed today, Saturday, that Iraq’s external debt amounts to $ 73 billion, while it indicated that the United States of America came first in the world with the most indebted countries in the world.

According to the statistics published by the Foundation during the year 2020, "The United States ranked first in the world with the largest debt with 17 trillion and 910 billion dollars, followed by the United Kingdom with a debt of 8 trillion and 126 billion dollars, and then France comes in third place with a debt of 5 trillion and 360 billion Dollars. "

She added that "the UAE comes at the forefront of the most indebted Arab countries at $ 237 billion, followed by the Kingdom of Saudi Arabia at $ 205 billion and $ 100 million, and then comes at the third place Qatar with 167 billion and $ 800 million, then Egypt ranked fourth with debts of 77 billion and 470 million Dollars, and then Iraq ranked fifth with a debt of 73 billion and 20 million dollars. "

 

 

 
Number of views 53   Date added 08/01/2020
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