The Iraqi Parliament reveals the f the country's debts

Shafaq News / The Parliamentary Finance Committee revealed, on Monday, that the amount of external debt owed by Iraq is $ 25 billion and the internal debt is 85 trillion dinars, while it indicated that the general budget provides salaries for employees for the remaining months for the current year 2020.

Committee reporter Ahmed Al-Saffar told Shafaq News agency, "The parliament will start the procedures for discussion and reading the draft general budget law for the year 2020," expecting that it will be approved at the next session of the cabinet and sent to Parliament next week.

Iraq did not approve the financial budget due to the resignation of the previous government at the beginning of this year under the unprecedented popular protests, and then the outbreak of the Covid-19 in the country; that caused a financial crisis.

The Iraqi government is struggling to secure employee salaries and other operating expenses due to the collapse in oil prices, in which the country relies on revenues from selling crude oil to finance 95 percent of state expenditures.

It is noteworthy that, on June 24, parliament approved a bill submitted by the government for internal and external borrowing.

The government had submitted the bill, which includes foreign borrowing of $ 5 billion, and internal borrowing of $ 15 trillion to bridge the country's fiscal deficit.