Expert: restricted movement of the Iraqi capital to "loans" and the deficit will continue for 3 years

Since 10/31/2015 13:20 pm (Baghdad time)

Special - scales News

Said economist Abdul Hassan al-Shammari, Saturday, international loans that would be a major burden on the future of Iraq and its budget as the fiscal deficit will continue in the next three years, while noting that oil prices will continue to fall through 2016.

Al-Shammari said L / scales News /, that "borrowing from international banks and the International Monetary Fund or the World Bank are under certain conditions impacted on economic policy for Iraq," stressing that "international loans lead to a restriction of the movement of Iraqi money."

"The reason for borrowing from the International Monetary Fund is achieved fiscal deficit by drawing the budget for 2016, reaching the deficit of $ 23 trillion," stressing that "the deficit is very large compared to prices lower oil and that will continue to fall through 2016 attributing the cause that production is higher than demand. "

He noted that "the loans will be a significant burden on Iraq and on the future budget as the fiscal deficit will continue in the next three years," noting that "the deficit will Sakpl Iraq very heavy debts lead to a large fiscal deficit in the coming years and therefore the Iraqi budget will not be able to fill benefits and loans. "

He said economic expert beautiful behalf, L / scales News / earlier, that "Iraq is able to repay the borrowed from the World Bank earlier this month, in four years, indicating the importance of finding sources of income rather than relying on oil and taxes." Ended 29/4 e


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