World Bank warns Iraq to exceed the level of consumption red line

Posted, 2019/8/11 21:51


The World Bank issued a warning to Iraq, over the level of consumption exceeded the red line in its federal budgets.
"The World Bank has informed the government that the red line has exceeded the levelof consumption within the federal budgets," said Riyad Mohammed, a member of the Alliance of Sairun Alliance, in a press statement today (10 August 2019).

He added, "The consumption rate exceeded 25% and this is a serious indicator of the financial situation of the country."

He explained that "raising the percentage of consumption in the budget poses great risks in terms of the inability of the government to recruit and implement projects," and

pointed out that "the reduction of that percentage needs to activate the private sector and the transfer of budgets from consumer to investment."