Iraqi Economist Warns Of The Collapsing Economy Of The Country.
An Iraqi economic affairs expert warned Iraqi parliamentarians that party favoritism and bargaining in approving the country’s current budget and disregarding national interests are alarming signs of accelerating the collapse of Iraq’s economy.
In an interview with “Omar al-Halbousi”, an expert on Iraqi economic affairs, Sputnik news channel discussed the dispute between the Iraqi government and the Iraqi parliament regarding the voting of this year’s budget.
Omar al-Halbousi says: the reason for the suspension of the approval of the current year’s Iraqi budget bills is due to the difference between the regional Kurdish parties and the coalition party of the Shiite coordination framework. Because the Kurdish representatives want to deposit oil revenues of the region to the bank account of the region and are against depositing it to the treasury account of the Central Bank of the Central Government of Iraq.
He further adds: Another dispute between the Kurdish parties and the parliamentary forces is the coordination staff in the agency of the oil exporting company abroad. The Kurds want to transfer the oil of the region through the agency of the Iraqi company “SUMO” to the country without domestic exploitation, but the coordination staff is inclined to its domestic and foreign exploitation.
He said: Another difference between these two parliamentary currents is the demand of the Kurds to cancel the mandatory savings plan of 10% of the profit from the oil revenue of the region for the benefit of local employees, and in return for ignoring it, they want to add 100 billion Iraqi dinars to the region’s budget. It is from the income of the central government.
