September 05 2017
Led government failure in the economic file management, and the spread of financial and administrative corruption in all entities and institutions of the government, to a significant fiscal deficit and the worsening of the debt, where he stressed the economic expert, "Hussein Hinan", the cash reserves of hard currency reached to below $ 36 billion and that debt has reached alarming numbers.
He said Hinan in a press statement that "expectations indicate the arrival of the cash reserves of hard currency to below 36 billion dollars, which is less than the designer cash cover against the monetary bloc in Iraqi dinars, pointing out that the debt has reached alarming figures."
He Hinan, said: "The government is now obligated to ever put VAT on the money that is converted in hard currency abroad so as to maintain a delicate economic balance in the country."
He Hinan that "the money that can be collected from VAT on the central bank transferred overseas sales to an estimated $ 10 billion annually."
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