Parliamentary Finance Committee confirms the need for Iraq to borrow

Baghdad -INA

 The Parliamentary Finance Committee confirmed that Iraq needs internal and external loans within the 2021 budget.

Committee member Muhammad al-Shabaki said in a special statement to the Iraqi News Agency (INA), that "the estimation of internal and external loans in the 2021 budget was done after studies were conducted by the Ministries of Planning and Finance," indicating that "it was agreed that Iraq needs these loans after being met with objections." Inside the House of Representatives, from some blocs that had a vision that Iraq did not need these loans.

Al-Shibki added that "oil prices are still fluctuating, and it is not possible to build loans based on these prices," noting that "the coming days and weeks may witness a decrease in oil prices."

The Parliamentary Finance Committee had previously revealed the volume of internal and external borrowing in the 2021 budget.

The head of the Parliamentary Finance Committee, Haitham al-Jubouri, told the Iraqi News Agency (INA), that "the total of new borrowing in the 2021 external budget amounts to more than two billion dollars as a ceiling, but as a real borrowing does not exceed 350 million dollars. As for the internal debt, it will not exceed 5 trillion dollars." The central bank when needed. "