Iraqi Finance: The country's debts exceed $ 160 billion

On Sunday, the Parliamentary Finance Committee of Iraq revealed the size of the country's internal and external debt, and confirmed that it exceeds $ 160 billion.

And a member of the Finance Committee, Abd al-Hadi al-Saadawi, warned during his statements to Iraqi media, that "the state's continuation of external and internal borrowing will lead to the declaration of the country’s complete bankruptcy."

Al-Saadawi pointed out that "the total volume of debt increased after the increase in external borrowing after 2014 and until now, bringing the total debt volume to more than $ 160 billion, most of which is external debt, and includes a very high interest rate."

He explained, "The 2021 budget does not include a reduction in the salaries of state employees, and that the (white paper) presented by the government and voted by Parliament does not include measures to reduce the salaries of employees, but only includes allocations for employees of special grades." "Next year 2021 budget will be sent by the government to be discussed and presented to the House of Representatives for a vote."

T/S

ANHA