General budget at the table of economists
23/11/2017 12:00 am
They addressed the reasons for building on the deficit for the past years
Baghdad / Hussein Thugb
A group of economists in the public and private sectors studied the reality of the deficit in the federal public budget during a specialized seminar organized by the group "Towards economic leadership" electronic cooperation with the Association of Iraqi private banks.
The symposium began with a welcome speech followed by the Executive Director of the Association Ali Tariq and said: "We are facing an issue of very important and direct contact with the reality of the Iraqi economy represented by the federal budget and the proportion of disability built on it, and the subject before this large gathering of experts who have full perceptions of reality The case for the budget. " The default deficit The participation of the financial adviser to the Prime Minister, the appearance of Mohammed Saleh through the electronic circuit being busy consultations with an international delegation not far from the subject of the symposium and said: "The federal budget for a decade has been built on a deficit," referring to "the importance of working to address disability Structural in the content of the budget, especially since the past years have seen the response to the default deficit and the actual deficit, and structural deficit our goal in this symposium. Financial pressure
Saleh stressed that "the last ten years created a gap between expenditure and revenue was addressed the default deficit in the financial abundance and the actual deficit in the period of lack of revenue, and talked about the weakness of public finances for the failure of many people to pay what the state should receive from the amounts of taxes collected for various services in Offering
The Economic Leadership Group is an electronic platform that brings together the majority of economists in all disciplines. It discusses periodically the economic issues and works to crystallize an economic vision that contributes to achieving sustainable development. The appearance of Mohammed Saleh and directed by Laith Mohammed
Reda. Price fluctuations
"The structural imbalance in the economy led to the fiscal policy facing challenges that led to a deficit in the public coffers of the past years," he said. "The reasons for the deficit are due to price fluctuations in crude oil prices in world markets."
He pointed out that the structure of expenditure in the budget is divided into operational and 74% and investment rate of 26
%. Organizational purposes
Director of Operations at the Central Bank d. Mahmoud Dagher, in turn, addressed the issue of budget deficits for the past years and said: "Back to 2015 we find that the deficit in the budget was set at 20 trillion dinars and at the end of the year we went out deficit of 9 trillion dinars, and in 2016 deficit was set at 26 trillion dinars and went out with a deficit The actual deficit of 21 trillion dinars and so far has not achieved internal borrowing and this is positive, "pointing to the borrowing of 4 billion dollars for international purposes
only." Investment reality Dagher wondered why the deficit was overstated, I think that budget legislators are putting a big deficit to please those who ask "He pointed out that" our lifeline is the advancement of investment reality to give us great importance to the budget. "
"The importance of pluralism in resources and it makes no sense to link the fate of the people with a single financial resource, which is subject to price manipulation at any time," said Obaid Mahal, referring to "the importance of a high level of oil prices for the development of other economic sectors
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