Parliamentary budget: surplus of the supplementary budget will not fill the deficit

Parliamentary budget: surplus of the supplementary budget will not fill the deficit


 The range / Zahraa al-Jassim

After its approval on 22-6-2017, by the Council of Ministers and forwarded to the House of Representatives, the parliamentary finance confirms that the surplus in the supplementary budget adjusted by the government estimated at 7 trillions dinars, 3 trillions and 500 billion dinars, about the oil sales teams than estimated in the budget The federal budget for the year 2017, 3 trillions and 500 billion dinars, which is the result of the reduction of expenditure and the transfer of some doors, and where some are wondering about the possibility of the Central Bank to lend what amounts to the government to face the financial crisis going through, based on the existence of this surplus, The government lends money to repay it And the bonds at a discount to banks lent the government, thus he does not seize the opportunity comes in the case of a surplus in the budget to the government demanding certain things.

According to a member of the Committee on Economy and Investment parliamentary Najiba Najib in an interview for (the range), the supplementary budget adjusted by the government, which reached the parliament recently estimated surplus of 7 trillion dinars, 3 trillion and 500 billion dinars for the difference in oil sales, being the price fixed in the federal budget For the year 2017 was $ 42 a barrel, at the time of sale of oil in the past six months of $ 6.44 per barrel, and the result of this increase in the revenues of the state, adding: There is also another amount estimated at 3 trillion and 500 billion dinars, And moving some doors, and these are all مجت Ah became 7 trillion dinars, sent a supplementary budget to the Parliament of revisionism by the government.

Najib pointed out that these surplus amounts have been offset by the operational and investment expenses, represented by the entitlements of farmers and retirees, and the second investment, which was the entitlements of contractors and electricity projects, which was certainly based on the recommendations of the International Monetary Fund.
It seems that the excess amounts will not reduce the deficit in the federal budget for 2017, as some believe that the government faces many financial commitments and large, as Najiba Najib, asserting at the same time: that the talk about the possibility of this surplus if the oil prices rebounded to the top The price of oil in the current budget is estimated at $ 6.44, meaning that there is a significant increase in the revenues of the state, because we estimated at the beginning of the year the price of oil per barrel "
But it has risen to more than 44, and this indicates that the price in the rise, is steady: Will the future increase in the price of a barrel of oil or not it certainly remains subject to expectations, and believes that the price in 2018 may exceed the "$ 50 per barrel, On the possibility of the Central Bank to recover the amounts lent to the government to face the financial crisis experienced by the country based on this surplus and what is expected in the future after the increase in oil prices, said the Director General of the Department of Issuance and Treasury in the Central Bank, Ihsan Shamran Al-Yasiri said in an interview with Al-Mada, Alomat which has not yet found any surplus, but there are no indications even so, continuing: This surplus may occur in the future after the rise in oil prices, but now also the barrel of oil stable at a certain price, even in the case of a surplus in the Iraqi state budget after the rise in prices and hope that it is surplus goes to the Ministry of Finance and not the Central Bank, as some believe.
"There is no surplus but on the contrary there is a supplementary budget for the existence of very urgent spending on the Iraqi state and the funds were collected for the purpose of strengthening the supplementary budget for 2017, and on some wondered whether in the case of a surplus in the Iraqi budget will return this surplus to the Central Bank to meet the amounts I lend to the government? , Shamran says here should be corrected that the central bank did not lend to the government, but he has deducted bonds to banks lent the government, which means that he deducted the public debt securities, and this process in the financial situation experienced by Iraq can not be dealt with according to one principle one, when he recovers Financial situation For Iraq to be a modern incident according to the expression " , Pointing out that any surplus today in the budget fills the deficit, which amounted to more than 21 trillion Iraqis because each surplus must strengthen this deficit, however: We do not expect to have surplus over this amount.
In his opinion, the Central Bank of the State Bank, and if it had not been for the last four years, we would have witnessed great problems for the State, and the Central Bank does not seize opportunities and comes in the case of a surplus in the budget. Yes, it is not the government's money, but it is the state's money, and when the economy recovers, the deficit is covered for each new incident.
The Cabinet approved in its ordinary session on 22-6-2017, headed by Prime Minister Haider Abadi, a supplementary budget for the year 2017, and pointed out in a statement that the approval was made on the draft law of the federal supplementary budget for the fiscal year 2017 and referred to the House of Representatives.
The deficit in the federal budget for the fiscal year 2017, 21 trillion dinars, but now within the supplementary budget will be after raising the price of a barrel of oil to 44.4 dollars Maisawi 25 trillion dinars by about 18%, "according to the supplementary budget, which came at the request of the International Monetary Fund Specialists.


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