Shafaq News / The Finance Committee in the Iraqi parliament called on the government to prepare the 2021 Budget Law, to ensure securing financial dues for the important basic sections and projects in the state.
Committee member Hanin Al-Qaddo told Shafaq News agency, "approving the current year 2020 budget is unlikely, and will not help to secure pending benefits", considering that, "any effort to approve the 2020 budget in the coming months is legitimate and covers the sums and expenditures that the government disbursed during the current year".
Al-Qaddu expressed his hope, "for the recovery of oil prices in global markets and the implementation of government programs and plans to control other financial revenues, such as border crossings, rationing consumption to consolidate the budget and address any financial deficit, to secure employee salaries and important service projects".
COVID-19 pandemic and the drop in oil prices in global markets caused the Iraqi parliament to delay approving the 2020 budget, which caused a critical crisis in providing employee salaries, and the parliament’s resort to approving the internal and external borrowing law.
The amounts of external borrowing amounted to 5 billion dollars, while the internal borrowing reached 15 trillion Iraqi dinars.