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Parliamentary Finance: Approval of the borrowing law this week and an exit for the payment of salaries

The Parliamentary Finance Committee suggested that a draft law on borrowing to finance the financial deficit in the House of Representatives will be approved this week.

“The government’s statement about the lack of liquidity is inaccurate and has liquidity, but it is not sufficient to disburse salaries, and it is possible to fill the deficit with temporary borrowing, which is the prerogative of the Minister of Finance,” said Jamal Cougar, a member of the committee.

He added, “The spokesman for the prime minister announced that the Minister of Finance said that if the parliament does not approve the law, there are other options, and we support that and prefer them to borrowing because it is very difficult and the Iraqi economy does not bear more of them.”

Cougar pointed out that “the Finance Committee continues to discuss the borrowing law and this week the law may be enacted at most, but the government has to present its other options because all the alternatives are better than borrowing.”

“The salaries should be released this week, and the finance minister has the power to borrow temporarily to fill the deficit and convert this temporary borrowing into borrowing within a legal ceiling,” he said. Source