With a deficit estimated at 37 trillion dinars .. The budget of 2018 tends to maximize revenues and expectations to delay approval
Range / Fadia Al Jawari
A member of the Finance Committee Ahmed Hama Rashid said that the budget of 2018 has not yet reached the House of Representatives, adding in a statement (the range) that "the initial information speaks of a budget deficit of 37 trillion dinars, including the debts of Kuwait, but after postponement of payment of these Debt worth $ 4.6 billion, or more than 5 trillion Iraqi dinars, would amount to 32 trillion dinars.
He stressed that the amount of expenditures in the next year's budget is estimated at 120 trillion dinars, while revenues less than this amount, and explained that these figures are not final because the final form of the federal budget has not been completed so far because of the recent tensions between Baghdad and Erbil and the referendum in addition to the absence of Kurdish deputies to attend The sessions of the parliament, which stopped work on the budget according to Foula.
He continued: According to what we have, the federal budget for the year 2018 tends to maximize non-oil revenues, pointing out that the success rate of the government of these steps dependent on the seriousness of the implementation of the planned policies, especially as the IMF loans, which finances Iraq burdens the government, But in any case, the federal budget for next year may reach the parliament on 10-10-2017, and the parliamentary finance committee is still waiting for the budget to be identified errors and add the necessary amendments.
Rachid: It seems that the region has retained the share of 17% of the budget in 2018, and there is no other agreement between the governments in the region and Baghdad because the region still sells oil without reference to the central government of Baghdad and the latter will certainly not give salaries and expenses of staff of the region.
The financial advisor to Prime Minister Dr. The appearance of Mohammed Saleh has said in press statements that "the federal budget for 2018, which will not exceed 110 trillion dinars (92 billion dollars), we hope to be approved next month in accordance with the law of financial management," adding that it tends to maximize non-oil resources whenever This is possible, and the state's tendency is to encourage employment opportunities through the private sector and to develop programs to lend young people with soft loans to enable them to engage in the labor market.
He stressed that the need to address the problem of deficit in order to ensure the continuation of economic activity and reallocation of resources in an optimal manner in the budget, and this is what we work for, indicating that Iraq is consulting with the International Monetary Fund on the subject of the so-called financial consolidation, reducing spending and maximize resources and sustainable debt sustainability within the borders Economic and revenue maximization '.
For her part, said a member of the Committee on Economy and Investment Najibah Najib that "the budget is still in the preparation and will be submitted to the Council of Ministers to vote on and submitted to the House of Representatives for approval Najib said in a statement to (the extent) that"
The government had announced earlier, it will impose additional taxes on a number of products in the budget for the year 2018 to get a trillion dinars, indicating that every five employees are to retire will replace one employee, saving 600 billion dinars.
The Prime Minister Haider Abadi has directed the advanced cadre at the Ministry of Finance to conduct a careful review of the proposal for the federal budget for 2018, and reduce the operational expenses of the three presidencies and ministries and non-linked to the Ministry to the minimum, to ensure the maintenance of basic expenses. He stressed "the need to secure international and national obligations in the payment of loan dues and benefits, and continue to secure the receivables of contractors."
Abadi called for "strengthening non-oil revenues by activating various activities and increasing productivity, and confirming the activation of the private sector so that it can play its role in improving economic performance and raising its contribution to national GDP."
The Iraqi budgets after 2003 rose from $ 32 billion to over $ 100 billion in previous years, but were exhausted in covering operating expenses, which constitute more than 78%, while the remaining unused the real development or directed to investment because of financial and administrative corruption.
The former oil minister, Adel Abdul Mahdi, announced that the budgets of Iraq since 2003 to date amounted to 850 billion dollars, but corruption made the task of taking advantage of these allocations almost impossible.