Finance Committee: $ 70 billion cost of war and reconstruction of the liberated areas

Finance Committee: $ 70 billion cost of war and reconstruction of the liberated areas


 Baghdad / Mohammad Sabah

Parliamentary Finance Committee estimated the losses of the war on Daesh since 2014 and reconstruction costs by about $ 70 billion. The Commission revealed Iraq 's debt rising by about $ 35 billion during the government of al - Abadi.
Successive governments have accused the central bank to act in reserves through government initiatives funded from cash reserves, and its attempt to bridge the deficit budgets of recent years


and warned lawmakers from the political "external borrowing" pursued by the government of al - Abadi, and demanded in the House of Representatives reviewed. The government protested the budget item including CI - 2017 authorizes plug through access to internal and external loans.
The government decided, according to the current year budget, borrow $ 19.6 trillion dinars ($ 16.5 billion) from local and international institutions to meet the dinars of $ 21.6 trillion deficit ($ 18.2 billion).
The budget allowed the issuance of treasury remittances worth $ 12 billion to repay loans in foreign oil companies operating in the country.
Iraq has signed credit cooperation with the International Monetary Fund agreement for a loan of $ 18 billion, also signed an agreement with the United States to secure a loan of $ billion.
Iraq has been allocated according to the budget this year , $ 5 trillion dinars ($ 4.2 billion) to pay off the benefits of internal and external loans.
According to official reports, published by the central bank 's website, and shared it with (range) the end of last year, that " the internal debt of the country since 2004 until last November of 45.4 trillion dinars."
MP says Ahmed Hama Rashid, Rapporteur of the Finance Committee, said that " the Dawa Party gave us coating past periods Modellers were not conciliators in the management of the rule of Iraq, and caused heavy and substantial financial losses to the Iraqi state," adding that "al - Maliki government and al - Abadi was their consequences tent on the Iraqi economy ".
He said Hama Rashid, told ( the term) that " the war on Daesh costs exceeded all expectations and reached more than $ 35 billion , " noting that "Daesh destroyed most of the infrastructure in cities occupied and are in need of funds estimated at $ 35 billion for reconstruction ".
He said Kurdish lawmaker , "Maliki 's government alone has cost Iraq financial losses of up to $ 70 billion over the last eight years." She Saw Hama Rashid said "current Prime Minister Haider al - Abadi, who was Chairman of the Finance Committee for four years and economic representative for four years , and the Minister of Communications for one year, thrown by the Dawa Party , to save what can be saved after the security and economic deterioration caused by his predecessor."
The attention of a member of the Finance Committee, which revealed a study prepared on the financial performance of the Iraqi government, saying "before the assumption of Abadi , his duties as head of government was a cash reserve estimated B81 billion up during the current period to $ 47 billion," expected decline in reserve with the end of the mandate of the Abadi , to a period $ 46 billion.
Kurdish MP speaks about Iraq 's debt , which worsened during the government of al - Abadi, after it was at the beginning of his reign in 2014, about $ 81 billion, stressing that " the debt rose to $ 116 billion, visit $ 35 billion." He pointed out that "Iraq 's losses reached $ 70 billion during the government of al - Abadi."
In the context of the financial situation of Iraq, MP Mohammed Halbusi, chairman of the Finance Committee, "There is a discrepancy in the data provided by the central bank on monetary reserves , " he says. He noted that "there is data talked about the presence of $ 81 billion, and the other pointed to $ 64 billion."
The Central Bank has dropped its reserves of hard currency to 49 billion dollars , after it was up to $ 80 billion in 2013, falling to 66 billion in 2014, until he reached 53 billion in 2016 and most recently the Central announced that the currency reserves up to 49 billion dollars.
He Halbusi, in an interview with the (range) yesterday that " the Governor of the Central Bank confirmed the Finance Committee that the cash reserve was at the end of 2014 $ 64 billion." He said that "agricultural, industrial and real estate initiative launched by the government was dependent on the financing of the central bank reserves."
The Chairman of the Finance Committee confirms that " the decline in government revenue in recent years , forcing it to resort to central bank reserves to cover past budget deficits through payment in the form of treasury bonds."
He revealed Halbusi about "the existence of the Finance Committee 's intention to host the Prime Minister Haider al - Abadi in the House of Representatives to clarify some of the crises and problems that stand in the forefront of the financial file". But he asserts that "it is up to the understanding between the House of Representatives Speaker Salim al - Jubouri and Prime Minister Haider al - Abadi to determine the date of hosting."
The government is trying to deal with its financial problems Abadi through recourse to external debt. The government recently signed an agreement with the British government for a loan of $ 12 billion, through its implementation requires British companies over ten years and will focus on electricity, water and sewage projects.
The government withdrew during the year 2016 amounts reached $ 5 billion to meet public budgets deficit, which Othagltha expenses of the war against Daesh.
It revealed the Ministry of Planning, recently, that the war on Daesh drains 40% of Iraq 's budget. She stressed that these foreign loans contribute to the age of the affected areas of military operations.
In turn , MP Haider Alfoada, a member of the Integrity Committee, for "smuggling amounts of up to $ 310 billion for since 2003 , " spoke, referring to the "recovery of $ 44 billion in legal terms and not actual within the past two years."
He explained Alfoada, in a statement (term) yesterday that " the money that has already recovered an estimated 44 billion Iraqi dinars , " noting that "the smuggled money distributed among the countries of the world, especially European countries."
The attention of a member of the Integrity Committee that "this money back to Aracan officials from ministers in cooperation with some companies were smuggled out of Iraq."
Before more than a year, it announced the formation of a ministerial committee with the participation of the Central Bank of Iraq, and the Integrity Commission, Ministry of Finance, and the intelligence service, the State Department, to follow up the restoration of Iraq funds smuggled abroad, but they did not lead to tangible results.


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