Friday, March 29, 2024

Baghdad

Maliki accuses Saudi Arabia of destroying Iraqi economy

The Iraqi Vice President Nuri al-Maliki
The Iraqi Vice President Nuri al-Maliki

(IraqiNews.com) Vice President Nuri al-Maliki accused Saudi Arabia of destroying the Iraqi economy, by the oil policy to follow so as to harm Iran and Russia, stressing that Iraq is going through a severe economic crisis.

Maliki said in a TV interview followed by IraqiNews.com, “Saudi Arabia has followed a certain oil policy against Iran and Russia in order to damage their economy, but it had a negative impact on the Iraqi economy as well, which led to a decrease in the price of a barrel of Iraqi oil to below $50.”

Maliki added, “Iraq now suffers a severe financial crisis that inflicted the financial budget a large deficit,” pointing out that the 2015 budget cannot even build one school.

Maliki warned that the new government headed by al-Abadi needs to remedy the crisis by re-investment and reliance on the law and the system of infrastructure, stressing that the parliament should quickly proceed with this law and approve it.

Al-Maliki added, “We have a reserve of dollar stock at the Central Bank of Iraq and the government has to resort to this stock to make up for the deficit in the budget,” noting that, “We can borrow from 60 to 70 billion dollars in the form of insurances from the Central Bank, like what is followed by most countries around the world.”

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