The World Bank has issued a warning to Iraq that the level of consumption has exceeded the red line in its federal budgets.
"The World Bank has informed the government that the red line has exceeded the level of consumption within the federal budgets," Riyad Mohammed said in a press statement today (10 August 2019).
He added, "The consumption rate exceeded 25% and this is a serious indicator of the financial situation of the country."
He explained that "raising the percentage of consumption in the budget poses great risks in terms of the inability of the government to recruit and implement projects."
He pointed out that "reducing that percentage needs to activate the private sector and the transfer of budgets from consumer to investment."www.alliraqnews.com/modules/news/article.php?storyid=83126
"The World Bank has informed the government that the red line has exceeded the level of consumption within the federal budgets," Riyad Mohammed said in a press statement today (10 August 2019).
He added, "The consumption rate exceeded 25% and this is a serious indicator of the financial situation of the country."
He explained that "raising the percentage of consumption in the budget poses great risks in terms of the inability of the government to recruit and implement projects."
He pointed out that "reducing that percentage needs to activate the private sector and the transfer of budgets from consumer to investment."www.alliraqnews.com/modules/news/article.php?storyid=83126