Iraq will lift subsidies on Gasoline and Ration Cards due to IMF: Al-Anbuge

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On Saturday, the adviser of Economic Affairs to the Iraqi Prime Minister, Abdul Hussein Al-Anbuge issued a press statement that the International Monetary Fund has set the conditions against the issuance of loans in order to overcome the current Iraqi financial crisis.

He added that one of the imposed conditions is regarding the lifting the governmental support on the gasoline and ration cards. He stressed that lifting the subsidies on the ration cards and gasoline are being expected due to the imposed conditions by the International Monetary Fund. He added that it is also considered a segment of the reforms and it will be imposed by the Iraqi federal government in order to decrease the economic crisis issues in the country.

Al-anbuge and IMF

Al-Anbuge further added in his press statement that these new supposed conditions by the International Monetary Fund would reflect a negative impact socially and it would not be accepted by the Iraqi people. He said that it would bring more Iraqi people on the streets because the ration cards subsidy has its own importance. It is considered an essential part for Iraqi citizens in order to provide basic needs for their lives, but it is a reality that it also damaged Iraqi economy due to negative impact on the size of demand for the local products. He added that it is an essential requirement in order to get more loans from International Monetary Fund, which is expected in the month of June 2016. it would provide more than 15 billion U.S dollars as financial support over the next 3 years by the International Monetary Fund.

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