Loans to cover budget deficit have more cons than pros- expert

BAGHDAD / IraqiNews.com: An Iraqi economist on Monday said that plans to finance the deficit in the 2010 budget through external loans would have more disadvantages than benefits. “There is a $20 million deficit in the 2010 budget. According to the Finance Ministry, the deficit will be financed through external loans, the circulation of money from the 2009 budget and domestic loans,” Manaf al-Saegh told IraqiNews.com news agency. Iraq has an estimated budget of 84.657 trillion Iraqi dinars for the year 2010 with a budget deficit of ID22.922 trillion. SS (P) 73