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The Ministry of Finance reduces the borrowing ratio to 31 trillion, from 41 trillion

Parliamentary Finance Committee, announced on Saturday, the reduction of the Ministry of Finance and the proportion of borrowing to 31 trillion Iraqi dinars after it was 41 trillion.

The committee member said Ahmed Mazhar al – Jubouri, told Twilight News, ” The committee held several consultations with the Ministry of Finance to discuss the financing of the fiscal deficit law (borrowing), pointing out that” the reduction of the ministry ratio of borrowing to 31 trillion after it was 41 such a clear signal that the amount of 41 was overrated.”

He added that “his committee stresses the reduction and limitation of the percentage,” noting that it is likely not to vote on the law during the sessions on Monday or Tuesday.

Al-Jubouri expected “passing the law during next Thursday’s session,” pointing out that “the government needs 6 to 7 trillion dinars to cover salaries.”

For its part, the Parliamentary Finance Committee indicated that “it has documented information and data that the amount of borrowing is exaggerated compared to the disbursement of the previous months, as well as by hosting officials in the Ministry of Finance and knowing the data before it.”

She added, “She is keen to pass the borrowing law in a manner that guarantees the payment of salaries of employees and retirees, the social protection network and other expenditures, and the financial and economic reforms undertaken by the government.”

The leader of the Sadrist movement, Muqtada al-Sadr, warned today, Saturday, against internal and external financial borrowing to fill the deficit in the general budget, and to pay the salaries that the federal government had failed to disburse on time during the past months, and presented a number of points that he considered alternatives to avoid borrowing. Source