Financial borrowing: Parliament authorizes the government to borrow locally and abroad

Baghdad-ALSHARQIYA   June 24 : The Iraqi Council of Representatives voted on the internal and external borrowing law to finance the fiscal deficit for the year 2020, during the session chaired by Speaker of the Council Muhammad al-Halbousi in the presence of 168 deputies. International financial institutions and banks, provided that the borrowing covered in this law does not exceed the sum of $ 5 billion externally and 15 trillion dinars internally, and the House of Representatives voted to add new paragraphs in the law sent by the Prime Minister, including "the Finance Ministry financing the salaries and allocations of new appointees who were Appointing them to the vacancies in the years between 2016 and 2018  "And to address the financial entitlements of free lecturers, doctors and health personnel." The law also included the addition of a new article stating that all external loans, transfers, bonds and local loans are exempt from customs taxes and fees in accordance with the provisions contained in loan agreements  The law also obligated all state institutions and departments to adopt biometric fingerprints in the identifying identities of their affiliates for the purpose of centrally crossing data and information. "The internal and external borrowing law included a request for the Prime Minister to submit a program for economic reform within a period not exceeding 60 days from the date of approval of this law."


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