Member in Parliamentary Finance: The government secretly printed 10 trillion dinars ... and reveals the reason
by RamblerNash on Tue Dec 15, 2020 10:27 pm
{Baghdad: Al Furat News} A member of the Parliamentary Finance Committee said, "The federal government has secretly printed tens of trillions of dinars," he said.
Jamal Cougar stated in a press statement, that "since mid-2020 until now, the government has twice submitted a borrowing bill to the House of Representatives and approved by the House, and most of these loans were secured according to what the government announced by issuing financial bonds and selling them to the Central Bank. The central bank reserves are currently much less than they were before mid-2020, but this reserve has not decreased. "
Cougar explained that "through analyzing this, it becomes clear to us that the government has secretly printed tens of trillions of Iraqi dinars to pay salaries and cover expenses that were approved under the law on borrowing, which constitutes a great danger to the value of the Iraqi currency."
It is noteworthy that the government is facing difficulty in securing the salaries of its employees due to the financial crisis caused by the deterioration of oil prices and the outbreak of the Corona pandemic, as it resorted to borrowing 12 trillion dinars to distribute salaries until the end of this year under the Fiscal Deficit Financing Law approved by Parliament on November 12, which was resolved. As an alternative to the 2020 budget, where no agreement has been reached regarding the passage of the law, amid assurances from the Prime Minister, Mustafa Al-Kazemi, that he will face a problem in providing salaries as of the beginning of 2021.
Ammar Al-Masoudi
RamblerNash
GURU HUNTER