Parliamentary finance reveals the value of Iraqi debt and reviews a plan for economic reform



The decision of the Parliamentary Finance Committee Ahmed Al-Saffar saw, on Sunday, that economic reform passes through two aspects, one of which is controlling public expenditures while maintaining the necessary spending, noting the government's ability to maximize resources in less than a year, while revealingthe value of Iraqi debt.

Al-Saffar said in a press interview that "the Finance Committee has a paper for reform, which is matched by a paper prepared by the government, and we will strive to unify the two papers for what is good for the country and what helps us to get out of this crisis."

Noting that "Iraqi debt can be considered not significant compared to the ability of the country and being one of the rich countries with its resources, as the external debt is estimated at 25 billion and 444 million dollars, while the internal debt is around 40 trillion dinars."

He pointed out that "the government has a plan to maximize resources, properly access resources, mobilize them and transfer them to the public treasury, offset that unnecessary expenditures are very large, therefore there are two aspects. First, controlling public expenditures, maintaining necessary expenditures on the one hand, and maximizing resources on the other hand."

He added, "The matter needs a serious will from the government and we estimate that the government is able within a year or less to change a lot of things in a way that maximizes imports and reduces expenditures and a large part of the reform plan. As for getting out of chaos, developing economic sectors, advancing the Iraqi economy, and getting out of a situation Corruption and the absence of sound financial and monetary policies, they need to restructure oil policies, financial policies and the budget that reflect the government's approach and sound economic plans. "

And the decision of the Parliamentary Committee went on to say that "the approval that obtained the external borrowing came to an urgent necessity and a need for financial liquidity due to the current circumstances, and we seek not to continue with it."