The adviser for the minister of economic affairs Muhammad Saleh said in a meeting hosted by the Association for Iraqi banks and Iraqi institute for Economic Reform, Taxes on Iraqi people will not too high and the government has made a plan to raise taxes and the internal and external loans, which will be used to cover the budget deficit. According to the economic experts, the Iraqi government should develop a corruption free collection system for taxes. He further said that there are a lot of options in deficit financing. The Central Bank of Iraq will play an important role in the next phase to support the private sector.
The executive director of private banks association said that the private banks would play an important role in the next phase. He also said, there are a large number of proposals have submitted to the Iraqi government. There are a number of banks who will grant loans to finance those projects to support the infrastructure projects in Iraq including Water, electricity and hygiene. A member of the Finance committee said on 25th December that the salaries of employees will not affect this new increase. The Iraqi Prime Minister Haider al Abadi has signed a draft financial budget for 2015 and sent to the House of Representatives for discussion and voting. He called Salim al Jabouri, speaker of the Iraqi parliament, to call a special session to discuss the Iraqi financial budget 2015.