The World Bank informs Iraq that the consumption line has crossed the red line

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The World Bank informs Iraq that the consumption line has crossed the red line Empty The World Bank informs Iraq that the consumption line has crossed the red line

Post  Admin on Sat Aug 10, 2019 1:42 pm

The World Bank has informed the Iraqi government to exceed the red line of the level of consumption within its federal budgets.

Mohammed said in a statement to the information, that "the World Bank informed the government to exceed the red line of the level of consumption within the federal budgets," pointing out that "consumption rate exceeded 25% and this is a serious indicator of the financial situation of the country."

He added that "raising the percentage of consumption in the budget poses great risks in terms of the inability of the government to recruit and implement projects," noting that "reducing that proportion needs to activate the private sector and the transfer of budgets from consumer to investment."

The Committee on Investment and the Parliamentary Economy, warned earlier, of making Iraq a market for the disposal of consumer goods after the recent economic opening of a number of Arab and foreign state, while showing that the investment law needs amendments to bring investors to the country.


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