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[size=36]Economist reveals the deadly drawbacks in Iraq's largest budgets[/size]
10:15 - 26/01/2019
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Baghdad balances News
said Dr. Abdul Rahman al - Mashhadani, a professor of economics at the university, said that the 2019 budget of the country is the largest and the largest in the history of budgets, to be downloaded in government debt from previous years, along with the magnitude of the item salaries and poor exchange on other sectors means they will not add new.
Mashhadani said in a press statement on Saturday that the predominant feature of this budget is salaries and wages, which account for 54% of the total allocations, estimated at 113 billion dollars.
He added that the aspects that we were looking for as experts and specialists to go the largest part of that budget to the investment side and not to the operating side, as the remaining 46% of which 27% of the investment side and in fact the 27% will not go to invest, as the bulk of them will go To the arrears of contractors over 3 years in addition to the debts of farmers in arrears to the government from the sale of their crops since 2014, which constitute more than 5 billion individual.
He added the economist, the other part of the investment plan directed to the projects stalled, which has been completed more than 60% of them and the number of these projects more than 6000 projects, and the new projects worth about $ 5 billion of foreign loans, so we will not think of anything from That huge budget or its impact on the life of the citizen.
The economic expert pointed out that the new budget deficit of 23 billion dollars, and the most dangerous part of that budget that it depends in large part on foreign debt, that budget by about $ 14 billion foreign debt from different sources. At the same time, we are paying $ 10-12 billion of old interest and installments of debt, which will be difficult for Iraq, especially as the volume of indebtedness increases.
Ended
said Dr. Abdul Rahman al - Mashhadani, a professor of economics at the university, said that the 2019 budget of the country is the largest and the largest in the history of budgets, to be downloaded in government debt from previous years, along with the magnitude of the item salaries and poor exchange on other sectors means they will not add new.
Mashhadani said in a press statement on Saturday that the predominant feature of this budget is salaries and wages, which account for 54% of the total allocations, estimated at 113 billion dollars.
He added that the aspects that we were looking for as experts and specialists to go the largest part of that budget to the investment side and not to the operating side, as the remaining 46% of which 27% of the investment side and in fact the 27% will not go to invest, as the bulk of them will go To the arrears of contractors over 3 years in addition to the debts of farmers in arrears to the government from the sale of their crops since 2014, which constitute more than 5 billion individual.
He added the economist, the other part of the investment plan directed to the projects stalled, which has been completed more than 60% of them and the number of these projects more than 6000 projects, and the new projects worth about $ 5 billion of foreign loans, so we will not think of anything from That huge budget or its impact on the life of the citizen.
The economic expert pointed out that the new budget deficit of 23 billion dollars, and the most dangerous part of that budget that it depends in large part on foreign debt, that budget by about $ 14 billion foreign debt from different sources. At the same time, we are paying $ 10-12 billion of old interest and installments of debt, which will be difficult for Iraq, especially as the volume of indebtedness increases.
Ended
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