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Parliamentary Finance: The borrowing law will be presented for the second reading in this case

The Parliamentary Finance Committee confirmed, today, Friday, that its position on the borrowing law depends on the submission of exchange data from the government, while indicating that if the data arrives, the law will be presented for the second reading in the next session.

Committee member Magda Al-Tamimi said, “The issue of delay in salaries of employees is a matter of concern to citizens, the government and parliament, as it affects the people’s livelihood,” indicating that “the Finance Committee, when the draft law on borrowing from the government arrived, asked about the updated data, because the government sent data on the first six Months as an actual disbursement, and there should be nine months’ data.

She added, “The government requested a loan for a period of four months, and the committee does not have actual data on many paragraphs, and the committee must be informed of the data, because the government requested a loan of 41.6 trillion dinars, and therefore the exact calculations for four months must be known, knowing that the month of September I paid the salaries of its employees, and the loan should be calculated for three months only.

Al-Tamimi pointed out that “if the government is not in need of money, then why does it send the borrowing bill to the Finance Committee,” asserting that “the committee has sent a letter to the government regarding its need for the loan after the government spokesman’s statements, quoting the Minister of Finance, in which he said that salaries are secured.”

She pointed out that “Prime Minister Mustafa Al-Kazemi contacted the head of the Finance Committee and informed him of the government’s need for the loan,” calling for “the statements to be accurate, because these statements and their accuracy have a negative impact on the Iraqi people, because if the borrowing project is delayed, they will accuse the Finance Committee or Council MPs claim that they are behind the delay in approval.

Al-Tamimi added that “the Finance Committee is entrusted with these funds, and it does not put obstacles in place. Rather, it wants to know the real data so that the decision is correct,” noting that “with regard to solutions, the Financial Committee has a paper with solutions, but the fiscal and monetary policy is the government’s prerogative, and its tasks are The committee is to legislate laws and monitor the performance of the government, and each has its own tasks and duties, and the committee wants the work to be orderly, and there are no overlaps in the powers.

She indicated that “the government was late in launching salaries, because in fact it collects oil revenues, and it can cover salaries, but in any case it informed the Finance Committee of its need for funds.” Rather, it should have long-term solutions.”

Al-Tamimi stated that, “Iraq needs a budget for the year 2021 even if it is calculated at low oil prices, because this budget will be a road map, and it contains final accounts, and the experience of 2014 and 2020 should not be repeated, and this matter is not permissible according to the Public Administration and Public Debt Law.” The budget should be based on low oil price estimates (pessimistic).” Source