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World Bank refuses to lend to Iraq to cover the budget deficit


October 11, 2015 17:02

Direct: Majida al-Tamimi said a member of the parliamentary finance committee, said that the World Bank refused to lend to Iraq six billion dollars (5.1 billion US dollars) to cover its budget deficit, noting that the general budget will reach the House of Representatives in the fifteenth of the month.

She said according to the news agency Buratha, that the Minister of Finance Alaraca- Hoshyar Zebari, made a number of tours to foreign countries for the purpose of financial borrowing the aim of winning the fiscal deficit coverage in the financial Mizantah, "indicating that" the World Bank provided financial loan to Iraq billion dollars and an interest rate of one Ten and a half percent, and this is a big financial burden on the budget, "pointing out that" Iraq needs a loan of six billion dollars to cover the deficit. "

She added, "al-Tamimi" (a Deputy for the Sadrist movement block free), that "the financial budget for next year will come to the House of Representatives on the fifteenth of this month, found and discussed for the purpose of, and then be voted on."

The parliamentary finance committee and confirmed earlier that the federal budget deficit for 2016 has reached 29 trillion Iraqi dinars what caused the budget to reduce the amount of the budget of 113 trillion to 100 trillion dinars.

The country has the financial and economic crisis because of a sharp drop in oil prices and rising costs of the war on terror Daash gangs, which prompted the government to follow the austerity system and reduce government spending and taxing Kartat shipping to operators of mobile and import cars.


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