10/5/2020 11:11
BAGHDAD - Where News
The Finance Committee in the House of Representatives diagnosed, on Monday, a defect in which the government signed the issue of securing salaries, while presenting a method that saves one trillion dinars per month.
Committee member Naji Al-Saeedi said: "The government expectedthat at the end of the first borrowing law - voted on in June - it would not need a second borrowing, and it relied on high oil revenues, but with a decrease in those revenues that reached in the month of September to two billion and 600 million. A dollar, and with other state revenues, it could reach 3.250 trillion dinars, while we need 6.6 trillion dinars a month to cover salaries and other expenses, and this is what created a deficit in the budget.
Al-Saeidy criticized, "the government's resort to borrowing through the central bank to cover the deficit in salary financing," noting that "this causes a decrease in hard currency reserves, and that continuing this policy until the end of this year will lead to the collapse of the Iraqi economy."
The deputy added, "Acting properly in the customs issue can bring to the treasury a month (one trillion dinars), and the direct tax could reach 500 billion dinars, and all of this will solve the problem without resorting to borrowing."
alliraqnews.com
