Iraq is not bankrupt but we have a financial problem, says Abadi

(IraqiNews.com) On Saturday, Prime Minister Haider al-Abadi announced, that Iraq is not bankrupt, while noting that the country is facing a financial problem because of the drop in world oil prices.

Abadi said in the speech followed by IraqiNews.com, “Iraq is not bankrupt, because it has a lot of resources, energies and capabilities, but we are facing a financial problem this year.”

He added, “The Council of Ministers was able to pass the state budget for the next year 2015, and it was reviewed by House of Representatives for the first time.” He said he predicts that things will be better than expected.

On December 25, 2014, t he House of Representatives finished its first review of the budget bill, which was received from the Council of Ministers, and delayed its special session of the budget till 17th of January.