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Samson:  Representative economics: The white paper includes the conditions of the World Bank that affect the life of the citizen

16th October 2020

A member of the Parliamentary Economic Committee, Mazen Al-Faili, confirmed, on Friday, that the white paper for reforms includes the conditions of the World Bank, while he indicated that borrowing is a bitter option, but it is necessary.

Al-Faili said, “The reform white paper prepared by the Council of Ministers reached the House of Representatives for the purpose of detailed discussion,” explaining that it “contains the conditions of the World Bank, and these conditions are excessively strict, and affect the life of the citizen who must not bear the mistakes of previous governments.”

He added that “the reform materials in the white paper are implemented over a period of three years to reform the financial and economic situation in the country, as Iraq is currently suffering from a lack of financial returns with a delay in the process of disbursing employees’ salaries,” noting that “the paper includes reform points that are implemented in the long run, and reform materials.” Others should be applied in the licensing rounds, and the oil agreement with OPEC, given that the global economic situation has differed from the previous one.”

He pointed out, “Borrowing is a bitter option, but it is imperative, and we must reconsider taxes, levies, and expenditures, and search for new doors to increase revenues so that the citizen and employee are not affected.”   LINK