The Parliament will not approve the Borrowing law unless the government submits the reform paper, MP says

Shafaq News / The Parliamentary Finance Committee said that the parliament will not approve the borrowing law unless the Federal Government submits the reform paper. 

Committee member, Jamal Kocher, told Shafaq News Agency, "The Finance Committee did not review the law on financing the fiscal deficit despite its arrival at the Parliament building", indicating, "the committee will hold a meeting as soon as possible to discuss the law and take several recommendations prior to the first reading before the parliament".

He added, "the committee insists on the reform paper accompanying the borrowing law, not just the law", noting, "continuing with the borrowing law without the reform paper will cause a disaster for the economy of the Iraqi state".

Today, Sunday, the Cabinet Secretariat sent a draft law on financing the fiscal deficit to the Council of Representatives.

A government source told Shafaq News Agency, "We hope that the Presidency of the Council will discuss the law and approve it as soon as possible".

The government withdrew the borrowing law to introduce some amendments after submitting it last month. That law was replaced by the recently submitted "Financing the Fiscal Deficit" law.