Iraq News - Local News - Baghdadpost

Halbousi refuses external loans to fill budget deficit

Mohamed al-Halbousi

Parliament Speaker Mohamed al-Halbousi has expressed rejection toward depending on external loans to fill in the deficiency in the 2019 state budget.

During a meeting with the finance committee to mull the budget draft law, Halbousi indicated an increase in the general revenues and the investment allocations as well as sums dedicated for health, education, services like water, electricity and the infrastructure.

He also warned against delaying the approval of the draft law saying, “there are ongoing meetings to resolve the issues within the bill and its terms.”

Last month, Iraq's parliament reportedly finished the first reading of the draft of the budget for the fiscal year 2019.

The revenues of the 2019 budget is estimated at about 150.6 trillion Iraqi dinars according to the estimated revenues from the export of crude oil on the basis of the rate of $56 per barrel, and an export rate of 3,880,000 barrels per day.

Last Modified: Wednesday، 16 January 2019 10:29 AM