The Department of Economic Studies, University of Al-Mustansiriyah organized a symposium on the impact of external borrowing in the future of Iraqi economy.

The symposium, in which a number of researchers and specialists participated, aimed at highlighting issue of borrowing and its implications on the future of economy, especially the new borrowing which Iraq made after 2014 as a result of increasing public spending due to the war against terrorists and the decline in oil prices in the global market.

The symposium included delivering a lecture on the reasons of resorting to external borrowing and its impact on the future of Iraqi economy.

The symposium recommended adopting strategies to stimulate the economic sectors and diversifying the sources of national income without depending on oil revenues, to develop a strategy of reducing the unjustified spending in the coming budgets, controlling spending via tightening financial control, enhancing the role of integrity and reducing recourse to financial reserves in the Central Bank to fill the deficit in public budgets.

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