The Iraqi Parliamentary Finance Committee issued a statement that finance committee has submitted a proposal to the Iraqi Parliament to discuss with the Iraqi government and reconsider Iraqi monetary policy in order to overcome the financial crisis in the country.
A member of the Finance Committee MP Ahmed Hajji said in a statement that Finance Committee has prepared a number of proposals to describe the expected threats to the country. The Iraqi government should reconsider its monetary policy to overcome the problems of current and expected financial problems. He pointed out that Iraqi House of Representatives will discuss on this proposal after the end of the conference of the parliaments of Islamic Countries.
MP Ahmed Hajji further added that Iraqi Finance Committee and some of its related committees in the Iraqi House of Representatives would arrange a special meeting with the Iraqi government officials, supposedly the Iraqi Prime Minister and the Iraqi Finance Minister, Planning and Economic advisers and financial experts in order to discuss a set of proposals to meet the challenges of expected financial crisis in the country. It is important that Iraq is still experiencing severe financial crisis due to continuous decline in the global oil prices. The global oil prices are recorded at its lowest level and more than 93 percent of Iraqi budget was depending on the revenues of Iraqi oil exports.