Deficit is estimated at 37 trillion dinars ..moisnh 2018 is moving to maximize revenue expectations

Deficit is estimated at 37 trillion dinars ..moisnh 2018 is moving to maximize revenue expectations by delaying approval

30/09/2017 (00:01 pm) 

term / Fadia concubines

Finance Committee in the House of Representatives is expected to delay the adoption of 2018 budget , even if they arrive to parliament on time, on the tenth of next month, by the government, due to recent tensions between the region and the center against the backdrop of a referendum region on independence, indicating that the initial indicators of these budget refers to the deficit may exceed 37 trillion dinars in the event is not postponed Kuwaiti debt payment, amounting to 5 trillion Iraqi dinars. .

The Finance Committee member Ahmed Hamma Rashid said the 2018 budget did not reach so far to the House of Representatives, he said in a statement (term) that "preliminary information talks about a deficit in the budget was 37 trillion dinars, including the debt of Kuwait, but after the postponement of this payment debt which is equal to $ 4.6 billion, or more than 5 trillion Iraqi dinars, will reach the deficit to 32 trillion dinars.

the Rashid said the amount of expenditure in the next year 's budget is estimated at 120 trillion dinars, while revenues less than this amount, and explained that these the figures are not final because the final shape of the federal budget has not yet been completed because of tensions brother Rh between Baghdad and Arbil , and the referendum in addition to the absence of Kurdish deputies attend parliament sessions, which halted work on the budget , according to Foula.

He added , according to what we got the federal budget for the year 2018 is moving to expand non - oil revenues, pointing out that the percentage of the government 's success of these steps will depend on the nature of its seriousness in implementing the planned policies, especially since the international Monetary Fund loans that financed Iraq by taxing the shoulders of the government, but he also said: but in any case, the federal budget for next year could reach parliament on 10-10- 2017, Finance and the parliamentary Committee is still awaiting budget To be determined errors and to add the necessary adjustments. "

Rashid says: It seems that the region retained a 17% share of the 2018 budget, and there is no other agreement between the two governments in the region and Baghdad , the fact that the region is still selling oil without reference to the central government in Baghdad and the final will not necessarily give the salaries and expenses of the province 's staff.

The financial advisor to Prime Minister Dr. The appearance of Mohammed Saleh between in a press statement that " the financial federal budget for 2018, which will not exceed 110 trillion dinars ($ 92 billion), we hope to approve next month , according to the law of financial management," he said , adding: it 's going to expand non - oil resources whenever possible, as the State orientation is to encourage employment through the private sector and the development of youth programs lending soft loans to enable them to engage in the labor market.

Saleh asserted: the need to address the deficit problem so as to ensure the continuation of economic activity and the reallocation of resources optimally in the budget, and this is what we are working for, noting that Iraq will consult with the IMF on the subject of the so- called fiscal consolidation which reduce spending and maximize resources and the sustainability of debt sustainability within the limits economic Secretary and to maximize revenue. '

For its part, member of the Committee on Economy and Investment Najiba Najib stressed that " the budget is still in the pipeline and will be submitted to the cabinet for a vote and submit them to the House of Representatives for approval. She added Najib told ( the term) that" Iraq is borrowed from the International Monetary Fund and the World Bank amounts up to $ 5 billion fund announced a project to reform the economic situation in Iraq by raising the size of the investment budget on the operational, therefore, some of the paragraphs of the budget for operating in 2018 will be included in the recommendations made by the Fund, particularly with regard to pressure expenses.

The government had earlier announced that it would impose extra taxes on a number of products in the budget year 2018 to get trillion dinars, indicating that all five employees referred to retire will place one employee , which provides 600 billion dinars.

The Prime Minister Haider al - Abadi has been the face of advanced staff in the Ministry of Finance to conduct a thorough review of the proposal of the federal budget for the year 2018, and the reduction of operating expenses for the three presidencies and the ministries and departments not associated with the Ministry to the minimum, to ensure secure base expenses. He stressed " the need to secure international and national obligations in the repayment of loans and benefits entitlements, and continue to secure the entitlements of contractors."

He asked Abadi "work to promote non - oil revenues through the activation of various activities and increase productivity, and to confirm the revitalization of the private sector to enable it to perform the desired role in improving economic performance, and to raise its contribution to the national gross domestic product."

And gradually Iraqi budgets after 2003 upward of $ 32 billion , up more than 100 billion in previous years, but exhausted in operating expenses , which account for more than 78%, while the remaining percentage was not utilized to achieve real development or directed towards investment because of the financial and administrative corruption.

The former oil minister, Adel Abdul - Mahdi, has announced that the budgets of Iraq since 2003 , and even today amounted to $ 850 billion, but corruption made an important advantage of this almost impossible allocations.