2020-09-07
Member of the Parliamentary Finance Committee, Jamal Cougar, on Monday considered the federal government's "desire" to send the current year's budget as a "preemptive step" aimed at obtaining an opportunity to present a new law for borrowing.
Cougar said in a press interview that "the federal government's desire to send a budget for the current year to the House of Representatives, even though the fiscal year is nearing its end, is because of its need for a new borrowing law."
Indicating that "the internal and external borrowing law that was enacted in the House of Representatives previously had two ceilings, one of them time and the other financial."
Cougar added, "The financial ceiling has been set at five billion dollars externally, and 15 trillion dinars locally," pointing out that "the time limit represents the expiration of the law when the new federal budget comes to the dome of Parliament."
He pointed out that "according to these ceilings, the government decided to adopt a pre-emptive step and create a new opportunity by sending the budget to the House of Representatives in order to obtain space for submitting another law to borrow and obtain additional funds to fill part of the fiscal deficit in the budget next year."
burathanews.com
