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Central Bank: Consumer spending in the budget in excess of 80%
Date: 06/02/2017 11:42
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Information / Baghdad ..
The Governor of the Central Bank on the Keywords, on Monday, that the consumer expenditures in Iraq's budget in excess of 80 percent, as pointed out that the bank is Ptnqad foreign currency due to go most of the oil resources to consumption.
Keywords and said in remarks reported by the official newspaper "Sabah", and seen / information / them, "The challenges facing monetary policy (controlling the money supply) dating back to the nature of the Iraqi economy being economical Rieia par excellence where the form of oil revenues for about 95 percent of the general budget revenues of the state, "pointing out that" the problem lies in the rentier economy followed a yield behavior is not consistent with the trends of investment to expand the productive base, diversification and development sectors and push for stimulus infrastructure to promote economic growth. "
He added that "the economy and the behavior rentier reflected operations dissipation of wealth and consumption expenditures offset by lack of flexibility in the domestic productive apparatus and the trend to consumption and demand does not achieve the targets add to the economy is stimulated and nurturing, but also makes the productive base is very limited can not respond to consumer demand for it increases import operations , meaning that the reality of the situation at the present time, most of the oil resources go into consumption so the central Ptnqad foreign currency. "
Keywords and pointed out that "spending growth next consumer is often accounting for 70 percent of the state budget expenses and up to 30 percent of capital expenditures over the past years from 2004 to 2015 did not exceed 50 percent of the 30 percent actual expenses, so we can say that the actual percentage of consumer spending, the operating budget of ongoing implemented by more than 95 percent, and when adding this percentage is completed in investment expenditure, mean that consumer spending is far greater than 70 percent and up to 80 percent and more of it. " Finished / 25 p.
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[url][/url]Information / Baghdad ..
The Governor of the Central Bank on the Keywords, on Monday, that the consumer expenditures in Iraq's budget in excess of 80 percent, as pointed out that the bank is Ptnqad foreign currency due to go most of the oil resources to consumption.
Keywords and said in remarks reported by the official newspaper "Sabah", and seen / information / them, "The challenges facing monetary policy (controlling the money supply) dating back to the nature of the Iraqi economy being economical Rieia par excellence where the form of oil revenues for about 95 percent of the general budget revenues of the state, "pointing out that" the problem lies in the rentier economy followed a yield behavior is not consistent with the trends of investment to expand the productive base, diversification and development sectors and push for stimulus infrastructure to promote economic growth. "
He added that "the economy and the behavior rentier reflected operations dissipation of wealth and consumption expenditures offset by lack of flexibility in the domestic productive apparatus and the trend to consumption and demand does not achieve the targets add to the economy is stimulated and nurturing, but also makes the productive base is very limited can not respond to consumer demand for it increases import operations , meaning that the reality of the situation at the present time, most of the oil resources go into consumption so the central Ptnqad foreign currency. "
Keywords and pointed out that "spending growth next consumer is often accounting for 70 percent of the state budget expenses and up to 30 percent of capital expenditures over the past years from 2004 to 2015 did not exceed 50 percent of the 30 percent actual expenses, so we can say that the actual percentage of consumer spending, the operating budget of ongoing implemented by more than 95 percent, and when adding this percentage is completed in investment expenditure, mean that consumer spending is far greater than 70 percent and up to 80 percent and more of it. " Finished / 25 p.
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