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[rtl]Release date:: 9/16/16 9:33 • [rtl]243 [/rtl][rtl]read [/rtl]times[/rtl]
A member of the Committee to follow up the implementation of the government program, Anaam al-Khuzaie, on Monday rates of sharp decline in revenues of the state oil and non-oil, "warning of" the possibility of a severe economic crisis in the country. "
"Contrary to the government program, the fourth axis of which focused on maximizing non-oil revenues (customs taxes, for example) and monitoring public debt to ensure that it remains within the limits of financial sustainability, the government did not actually seek," Khuzaie said in a statement received by the Euphrates News Agency. To maximize non-oil revenues, "revealing the decline in oil prices from nearly $ 80 to $ 50 during the past months.
" Al-Khuzaie added that "unfortunately the customs agreements between Iraq and neighboring countries to incur the public budget heavy losses, especially with the granting of these countries customs exemptions And reduced entry attributes Non-oil revenues declined significantly, pointing out that the official figures indicate that non-oil revenues dropped from {8.6} trillion dinars until the end of August 2018 to approximately 33 trillion dinars until the end of August of 2019.
"This was accompanied by another serious decline in total investment expenditures from (16.3) to (11.2) trillion dinars for the same period mentioned," she pointed out that "this indicates a weak investment effort for this year, despite what was monitored by the general budget because of its decline by 32% this year compared to the same period last year, and this is in complete contrast to the government program follow-up report, which indicates high results in the completion of investment projects.
Al-Khuzaie said, "The justification for the government's performance is the decline in oil revenues.Iraq has achieved about 84 trillion dinars since the beginning of 2018 until August of the same year," pointing out that "this year has witnessed a sharp decline in oil revenues, as Oil revenues did not exceed 53 trillion dinars only, that is, oil revenues fell by 37% during the current year from 2018. ''
She explained, "The above figures disclose very important financial facts, the first decline in oil revenues and weak expectations about the recovery of oil prices, and the second decline in non-oil revenues due to the policies of exemptions (free of charge) followed by the current government," warning of "the possibility of an economic crisis Khanaqah warns of inflated levels of government fiscal deficit again and likely widening public debt, both internal and external.
Al-Khuzai stressed that "the investment budget figures fully reflect the deterioration of the reality of public services in the country despite the huge budgets approved annually to improve the reality of services and raise the living standard of the citizen."
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In numbers, a sharp drop in state revenues and a warning of a severe economic crisis
[/rtl][rtl]Release date:: 9/16/16 9:33 • [rtl]243 [/rtl][rtl]read [/rtl]times[/rtl]
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[rtl]A member of the Committee to follow up the implementation of the government program, Anaam al-Khuzaie, on Monday rates of sharp decline in revenues of the state oil and non-oil, "warning of" the possibility of a severe economic crisis in the country. "
"Contrary to the government program, the fourth axis of which focused on maximizing non-oil revenues (customs taxes, for example) and monitoring public debt to ensure that it remains within the limits of financial sustainability, the government did not actually seek," Khuzaie said in a statement received by the Euphrates News Agency. To maximize non-oil revenues, "revealing the decline in oil prices from nearly $ 80 to $ 50 during the past months.
" Al-Khuzaie added that "unfortunately the customs agreements between Iraq and neighboring countries to incur the public budget heavy losses, especially with the granting of these countries customs exemptions And reduced entry attributes Non-oil revenues declined significantly, pointing out that the official figures indicate that non-oil revenues dropped from {8.6} trillion dinars until the end of August 2018 to approximately 33 trillion dinars until the end of August of 2019.
"This was accompanied by another serious decline in total investment expenditures from (16.3) to (11.2) trillion dinars for the same period mentioned," she pointed out that "this indicates a weak investment effort for this year, despite what was monitored by the general budget because of its decline by 32% this year compared to the same period last year, and this is in complete contrast to the government program follow-up report, which indicates high results in the completion of investment projects.
Al-Khuzaie said, "The justification for the government's performance is the decline in oil revenues.Iraq has achieved about 84 trillion dinars since the beginning of 2018 until August of the same year," pointing out that "this year has witnessed a sharp decline in oil revenues, as Oil revenues did not exceed 53 trillion dinars only, that is, oil revenues fell by 37% during the current year from 2018. ''
She explained, "The above figures disclose very important financial facts, the first decline in oil revenues and weak expectations about the recovery of oil prices, and the second decline in non-oil revenues due to the policies of exemptions (free of charge) followed by the current government," warning of "the possibility of an economic crisis Khanaqah warns of inflated levels of government fiscal deficit again and likely widening public debt, both internal and external.
Al-Khuzai stressed that "the investment budget figures fully reflect the deterioration of the reality of public services in the country despite the huge budgets approved annually to improve the reality of services and raise the living standard of the citizen."
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