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Economist: Iraq to resort to borrowing to fill the shortage in 2016 budget does not mean bankruptcy
05/10/2015
He stressed the economic expert on behalf of Antoine, Monday, that the use of Iraq to borrow to fill the lack of financial budget for next year in 2016 does not mean that the country is heading into bankruptcy.
He said Antoine L / scales News / "Although Iraq resort to borrowing from the World Bank and the major powers to fill the shortfall in the budget, and that does not mean the country is heading toward bankruptcy."
The economist said that "the reason for not Iraq's ability to bankruptcy is basically because Iraq depends mainly on oil in its budget and that the oil prices are unstable sometimes go up and the other down, they are insufficient to meet the salaries and expenses of the country despite all the circumstances."
This "stressed the economic expert on behalf of Antoine's / scales News /, on Sunday, on the need to reconsider the budget of 2016 to assess the real deficit, noting that Iraq's economy will confront the risk if it continues to rely on the resources of the International Monetary local banks Foreign Loan Fund ".anthy 29/9 P
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