[You must be registered and logged in to see this image.]
Shafaq News / A report issued by the International Center for Development Studies (ICDS) , based in London warned on Thursday from the bankruptcy of Iraq in three years because of the budget deficit
, which now threatens the Iraqi oil sector clearly , as the report indicated that the military operations in Anbar cost per day seven million dollars
.
According to the report , the deficit exceeded $ 50 billion , Iraq would be at risk of bankruptcy in 2017.
Iraq will be unable to pay the salaries of its employees . It seems that the indicators of bankruptcy is looming , especially that the Iraqi government pays the salaries of its employees , including the salaries of the staff of Kurdistan Region in monthly form, which has allocated 4.5 billion dollars for February and did not send the salaries of next March , because the available amount is not enough but for one-third of the staff of Iraq
.
The report pointed out that the deduction of 15% of the budget allocated to investments in oil has contributed to reduce Iraqi exports of 2.62 million barrels per day to 2.28 million barrels per day during the past three months , what impact clearly on state revenues and plans to increase exports to more than 3.5 million barrels during 2014
.
The report adds, that the giant oil companies are unable to cope with the volatile environment of the Iraqi economy threatening to withdraw from it. In addition to the security factor that reveals the financial and administrative corruption, bureaucracy, lack of experience and the need for Iraq to infrastructure and train 70 thousand workers in the oil sector to reach the desired goals
.
The report refers that “BP “company has cancelled contracts of dozens of foreign contractors in South Rumaila field and threatened to withdraw from Eni Zubair field in Basra because of bureaucratic complications that delayed the signing one of the contracts for six months
.
The cost of Anbar war is 7 million dollars a day.
It seems that the budget deficit in Iraq has contributed to weaken the state's ability to establish security , being engaged in a war in Anbar that cost the Iraqi economy seven million dollars a day , which is exhausting burden to the budget and affect the state's ability to carry its other burden in the defense of the rest of Iraq
.
The report of ICDS notes to the real deficit in the Iraqi budget which has risen today to 32 billion dollars in the absence of an agreement between Baghdad and Erbil on oil exports , the adoption of five dollars in compensation to each oil producer province and the adoption of laws that do not fit with Iraq's ability to carry its financialburden
.
The budget deficit is not justified
ICDS believes that the deficit is not justified , for the fact that the budget has been prepared on the basis of price of $ 90 a barrel , while the price of oil did not get less than $ 100 , meaning that the budget must achieve a large surplus , especially that the completion rates in most Iraqi provinces did not exceed 40 % and in some of them was zero
.
In addition for that, the retained amounts from previous budgets up to 2012 was more than 50 billion dollars , raising questions about the real reason to talk about the deficit , if not a new attempt aimed to steal the public money and convert the benefits to personal gains of senior officials in the state
.
The report of the International Center for Development Studies explains that financial and administrative corruption in Iraq has led to the emergence of a new class of rich people and new entrepreneurs affiliated with the Iraqi government , who came to get rich quickly , prompting the emergence of a market for luxury goods in Iraq , most notably the private aircraft in which its prices could reach $ 16 million , while a third of the Iraqi people live under the poverty line
.
That issue has led the Ministry of Transport to issue checks for the purchase of these aircraft , which means that the volume of applications submitted needed the issuance of such instructions
.
The report expressed surprise that economist and advisers to the Iraqi government were able to prepare budgets since 2004 , in the absence of clear closing accounts that show real spending for its resources and allows control orders on the exchange , indicating clearly the fears of disclosing them and deliberately hiding them for fear of detecting large financial and administrative corruption in Iraq for years.
[You must be registered and logged in to see this link.]
Shafaq News / A report issued by the International Center for Development Studies (ICDS) , based in London warned on Thursday from the bankruptcy of Iraq in three years because of the budget deficit
, which now threatens the Iraqi oil sector clearly , as the report indicated that the military operations in Anbar cost per day seven million dollars
.
According to the report , the deficit exceeded $ 50 billion , Iraq would be at risk of bankruptcy in 2017.
Iraq will be unable to pay the salaries of its employees . It seems that the indicators of bankruptcy is looming , especially that the Iraqi government pays the salaries of its employees , including the salaries of the staff of Kurdistan Region in monthly form, which has allocated 4.5 billion dollars for February and did not send the salaries of next March , because the available amount is not enough but for one-third of the staff of Iraq
.
The report pointed out that the deduction of 15% of the budget allocated to investments in oil has contributed to reduce Iraqi exports of 2.62 million barrels per day to 2.28 million barrels per day during the past three months , what impact clearly on state revenues and plans to increase exports to more than 3.5 million barrels during 2014
.
The report adds, that the giant oil companies are unable to cope with the volatile environment of the Iraqi economy threatening to withdraw from it. In addition to the security factor that reveals the financial and administrative corruption, bureaucracy, lack of experience and the need for Iraq to infrastructure and train 70 thousand workers in the oil sector to reach the desired goals
.
The report refers that “BP “company has cancelled contracts of dozens of foreign contractors in South Rumaila field and threatened to withdraw from Eni Zubair field in Basra because of bureaucratic complications that delayed the signing one of the contracts for six months
.
The cost of Anbar war is 7 million dollars a day.
It seems that the budget deficit in Iraq has contributed to weaken the state's ability to establish security , being engaged in a war in Anbar that cost the Iraqi economy seven million dollars a day , which is exhausting burden to the budget and affect the state's ability to carry its other burden in the defense of the rest of Iraq
.
The report of ICDS notes to the real deficit in the Iraqi budget which has risen today to 32 billion dollars in the absence of an agreement between Baghdad and Erbil on oil exports , the adoption of five dollars in compensation to each oil producer province and the adoption of laws that do not fit with Iraq's ability to carry its financialburden
.
The budget deficit is not justified
ICDS believes that the deficit is not justified , for the fact that the budget has been prepared on the basis of price of $ 90 a barrel , while the price of oil did not get less than $ 100 , meaning that the budget must achieve a large surplus , especially that the completion rates in most Iraqi provinces did not exceed 40 % and in some of them was zero
.
In addition for that, the retained amounts from previous budgets up to 2012 was more than 50 billion dollars , raising questions about the real reason to talk about the deficit , if not a new attempt aimed to steal the public money and convert the benefits to personal gains of senior officials in the state
.
The report of the International Center for Development Studies explains that financial and administrative corruption in Iraq has led to the emergence of a new class of rich people and new entrepreneurs affiliated with the Iraqi government , who came to get rich quickly , prompting the emergence of a market for luxury goods in Iraq , most notably the private aircraft in which its prices could reach $ 16 million , while a third of the Iraqi people live under the poverty line
.
That issue has led the Ministry of Transport to issue checks for the purchase of these aircraft , which means that the volume of applications submitted needed the issuance of such instructions
.
The report expressed surprise that economist and advisers to the Iraqi government were able to prepare budgets since 2004 , in the absence of clear closing accounts that show real spending for its resources and allows control orders on the exchange , indicating clearly the fears of disclosing them and deliberately hiding them for fear of detecting large financial and administrative corruption in Iraq for years.
[You must be registered and logged in to see this link.]
Yesterday at 4:13 pm by Rocky
» MM&C 9/29/24 What after the closure of the currency auction at the Central Bank of Iraq?
Yesterday at 11:48 am by Rocky
» MM&C 9/29/24 "THE EXPECTED PATH OF THE IRAQI ECONOMY"
Yesterday at 7:14 am by Rocky
» utube 9/28/24 MM&C IQD Update News -Iraq PM - $83 Billion 3 Years - Stability - Global Contracts -
Yesterday at 7:12 am by Rocky
» utube MM&C 9/26/24 Iraq Dinar News-Iraq Plans Redenomination of Currency-Value of it Related-Elect
Yesterday at 7:11 am by Rocky
» Advisor to the Prime Minister rules out a decline in gold prices in the coming period..and explains
Yesterday at 7:03 am by Rocky
» Legal expert: If it weren't for the Security Council's collusion, the Zionist entity would have been
Yesterday at 6:59 am by Rocky
» Minister of Planning announces field progress in preparations for the census
Yesterday at 6:58 am by Rocky
» Proposal before the government to form an economic and security crisis cell
Yesterday at 6:56 am by Rocky
» Al-Karawi: The government's ignoring of the resistance's request is a betrayal of the blood of the m
Yesterday at 6:55 am by Rocky
» Iraq is the fourth largest importer from Türkiye during the past month
Yesterday at 6:53 am by Rocky
» The Prime Minister directs that Lebanese citizens wishing to come to Iraq be granted fast travel doc
Yesterday at 6:50 am by Rocky
» US releases founder of cryptocurrency exchange Binance
Yesterday at 6:48 am by Rocky
» The Central Bank of Iraq issues a warning to exchange companies regarding the sale of dollars
Yesterday at 6:46 am by Rocky
» The Central Bank of Iraq sells more than $ 258 million in today's auction
Yesterday at 6:45 am by Rocky
» Launching of aid and scholarship salaries this week
Yesterday at 6:43 am by Rocky
» Karbala begins implementing 154 projects
Yesterday at 6:42 am by Rocky
» Next Tuesday.. Closing of the application for the central admission form
Yesterday at 6:40 am by Rocky
» Service effort: Including the capital and 4 governorates in next year’s plans
Yesterday at 6:39 am by Rocky
» Rafidain Bank issues instructions for granting real estate loans
Yesterday at 5:25 am by Rocky
» The expected path of the Iraqi economy
Yesterday at 5:23 am by Rocky
» Experts: Population census shapes economic policies and directs investments
Yesterday at 5:22 am by Rocky
» Central Bank records more than $1 billion in currency sales in a week
Yesterday at 5:20 am by Rocky
» The Central Bank of Iraq warns exchange companies that sell dollars to travelers from receiving a co
Yesterday at 5:19 am by Rocky
» Iraq under the microscope.. Will Baghdad succeed in avoiding regional conflict after the assassinati
Yesterday at 5:17 am by Rocky
» Al-Sudani makes a phone call to the Lebanese Prime Minister
Yesterday at 5:14 am by Rocky
» How will developments in Lebanon affect the Iraqi economy and the oil market?
Yesterday at 5:13 am by Rocky
» The position of the Speaker of Parliament and developments in the region on the table of Masoud Barz
Yesterday at 5:06 am by Rocky
» Targeting of an American base in Syria by Iraqi factions
Yesterday at 5:05 am by Rocky
» Official: Border shelling targeted Iraqi faction, reports of casualties
Yesterday at 5:04 am by Rocky
» How much is Iraq's external debt in light of the fluctuation in oil prices?
Yesterday at 5:02 am by Rocky
» Iraq is not far from war.. Will the factions enter into a confrontation with Israel?
Yesterday at 5:01 am by Rocky
» Outcomes of the Coordination Framework Meeting in the Presence of Al-Sudani
Yesterday at 5:00 am by Rocky
» Al-Sudani renews to Mikati Iraq's firm position in supporting Lebanon and standing with it
Yesterday at 4:57 am by Rocky
» Iraq's oil exports to US rise in a week
Yesterday at 4:56 am by Rocky
» 5 governorates on the 2025 service effort plan
Yesterday at 4:53 am by Rocky
» Dollar exchange rates in Iraqi stock exchanges today
Yesterday at 4:52 am by Rocky
» Drug Law Amendments: No Life Sentences Anymore... Trade and Agriculture Will Be Faced with "Death Pe
Yesterday at 4:50 am by Rocky
» A long-awaited historic position... When will the coalition forces leave Iraq?
Yesterday at 4:48 am by Rocky
» Warnings of an imminent economic danger... and the alternative solution is taxes!
Yesterday at 4:46 am by Rocky
» Dilapidated buildings and shortages... Iraq needs new schools!
Yesterday at 4:44 am by Rocky
» Iraq is the second Gulf country to award contracts worth more than $2 billion
Sat 28 Sep 2024, 10:23 am by Rocky
» Intensive US movements on the Iraqi-Syrian border.. Where is the situation heading? - Urgent
Sat 28 Sep 2024, 10:20 am by Rocky
» Iraqi Minister of Water Resources speaks to Al Jazeera Net about solutions to the water crisis
Sat 28 Sep 2024, 10:15 am by Rocky
» Iraqi Foreign Ministry: Expanding the scope of war in the region leads to serious consequences
Sat 28 Sep 2024, 5:16 am by Rocky
» /Information/ reveals the location of the Rafidain Bank robbers in Ramadi
Sat 28 Sep 2024, 5:15 am by Rocky
» Al-Sudani Office for /Al-Maalouma/: Foreign workers threaten graduates
Sat 28 Sep 2024, 5:14 am by Rocky
» Foreign Minister invites his Venezuelan counterpart to visit Baghdad
Sat 28 Sep 2024, 5:12 am by Rocky
» "Government" real estate loans with amounts up to 150 million dinars.. Conditions and details
Sat 28 Sep 2024, 5:10 am by Rocky
» Setting a date to launch 102 investment opportunities in Iraq
Sat 28 Sep 2024, 5:07 am by Rocky
» Bitcoin Set to Post Best September Ever on Rate Cut
Sat 28 Sep 2024, 5:06 am by Rocky
» What is the truth about the existence of a naval embargo imposed on Iraq?
Sat 28 Sep 2024, 5:04 am by Rocky
» More than $70 million in Iraqi imports of Indian tea
Sat 28 Sep 2024, 5:03 am by Rocky
» Oil price decline: Impact hits new groups in Iraq
Sat 28 Sep 2024, 5:02 am by Rocky
» Parliamentary Finance to NINA: The decline in global oil prices will not affect employees’ salaries
Sat 28 Sep 2024, 5:00 am by Rocky
» Al-Hakim: Investing in tourism as one of the sources of financial revenues for the state
Sat 28 Sep 2024, 4:59 am by Rocky
» From Najaf Al-Ashraf.. The Minister of Labor announces the completion of the procedures for issuing
Sat 28 Sep 2024, 4:58 am by Rocky
» Parliamentary Finance to NINA: The decline in global oil prices will not affect employees’ salaries
Sat 28 Sep 2024, 4:56 am by Rocky
» 19,000 dinars difference from the official price.. The dollar falls slightly in Baghdad
Sat 28 Sep 2024, 4:52 am by Rocky
» Al-Asadi: We call on citizens to invest in the retirement and social security law
Sat 28 Sep 2024, 4:51 am by Rocky
» “Worth $4 billion”: Iran exports engineering services to Iraq
Sat 28 Sep 2024, 4:48 am by Rocky
» US, Iraq agree to end 'alliance' in September 2025
Sat 28 Sep 2024, 4:46 am by Rocky
» New tax will push house prices up, Iraq's real estate market into recession
Sat 28 Sep 2024, 4:45 am by Rocky
» It is black and includes Iraq.. Netanyahu waves the “curse map” before the United Nations
Sat 28 Sep 2024, 4:43 am by Rocky
» “The wiretapping scandal” complicates the political scene.. The second term is far from Al-Sudani
Sat 28 Sep 2024, 4:42 am by Rocky
» Suspicions surround hospital projects.. Is corruption hindering the Chinese agreement in Iraq?
Sat 28 Sep 2024, 4:41 am by Rocky
» Statement issued by the media office of Dr. Iyad Allawi
Sat 28 Sep 2024, 4:39 am by Rocky
» Faeq Zidane: The jurisdiction of law and judiciary is a constitutional and legal jurisdiction
Sat 28 Sep 2024, 4:37 am by Rocky
» Sudanese arrives in Baghdad
Sat 28 Sep 2024, 4:36 am by Rocky
» Planning: Completion of 70% of inventory and numbering work in Kirkuk
Sat 28 Sep 2024, 4:34 am by Rocky
» Rafidain Bank announces granting real estate loans to three categories
Sat 28 Sep 2024, 4:33 am by Rocky
» Dollar price today
Sat 28 Sep 2024, 4:32 am by Rocky
» Netanyahu enters with maps and attendees leave the General Assembly session.. What did he mention Ir
Sat 28 Sep 2024, 4:29 am by Rocky
» The historic agreement on international withdrawal... a turning point in the path of Iraqi sovereign
Sat 28 Sep 2024, 4:27 am by Rocky
» Includes citizens, employees and retirees.. A real estate loan from Rafidain worth 150 million dinar
Sat 28 Sep 2024, 4:24 am by Rocky
» Does it include an American withdrawal? Two important indications in the statement "ending the missi
Sat 28 Sep 2024, 4:22 am by Rocky
» Dollar exchange rates drop in Iraqi stock exchanges
Sat 28 Sep 2024, 4:21 am by Rocky
» Will the drop in oil affect only employees' salaries or all segments of society?
Sat 28 Sep 2024, 4:19 am by Rocky
» North Carolina removes 747,000 from voter rolls
Fri 27 Sep 2024, 5:03 pm by Bama Diva
» The full extent of the Biden-Harris criminal alien invasion REVEALED
Fri 27 Sep 2024, 4:32 pm by Bama Diva
» utube 9/24/24 MM&C Iraqi Dinar News-IRAQ-INTERNATIONALISM NY-2023 to 2029 Road Map - Social- Finan
Fri 27 Sep 2024, 7:17 am by Rocky
» Hanoun calls for benefiting from the Chinese economic experience and linking the Silk Road between t
Fri 27 Sep 2024, 7:12 am by Rocky
» Gulf-American statement directs a strict request to Iraq
Fri 27 Sep 2024, 7:10 am by Rocky
» Conflict escalates in the Middle East, warning of Iraq slipping deeper into confrontation
Fri 27 Sep 2024, 7:08 am by Rocky
» EU 'concerned' over increasing executions in Iraq
Fri 27 Sep 2024, 7:05 am by Rocky
» Mustafa Sand: The judiciary has proven the “wiretapping” issue, and Al-Sudani’s brother is involved
Fri 27 Sep 2024, 7:04 am by Rocky
» Parliamentary Committee Talks in Numbers About Iraq’s Water Crisis with Türkiye and Proposes a Solut
Fri 27 Sep 2024, 7:01 am by Rocky
» Why did the Central Bank hesitate to implement the measures taken against Iraqi private banks?
Fri 27 Sep 2024, 7:00 am by Rocky
» US State Department: Announcement of agreement on the future of the international coalition from Ira
Fri 27 Sep 2024, 6:58 am by Rocky
» Housing Crisis in Iraq: “Ambitious” Government Plans and Fears of Monopoly
Fri 27 Sep 2024, 6:55 am by Rocky
» Will privatization save Iraq's economy or open the door to corruption?
Fri 27 Sep 2024, 6:52 am by Rocky
» Parliament: Agreement with the regional government to review its oil contracts to adapt them constit
Fri 27 Sep 2024, 6:51 am by Rocky
» Interior Minister: Iraq is free of drug factories
Fri 27 Sep 2024, 6:50 am by Rocky
» Anbar Alliance: Halbousi clings to power because he fears opening major files against him
Fri 27 Sep 2024, 6:48 am by Rocky
» Rising prices of oil derivatives in Kurdistan.. reasons and goals
Fri 27 Sep 2024, 6:46 am by Rocky
» Economist calls on the government to resort to tax exemption
Fri 27 Sep 2024, 6:45 am by Rocky
» Iraqi Oil Company for Investment and Pricing of Raw Gas Produced
Fri 27 Sep 2024, 6:44 am by Rocky
» Increase in activity at Mandali border crossing during the current year
Fri 27 Sep 2024, 6:43 am by Rocky
» MP: New cities map will include eight governorates next year
Fri 27 Sep 2024, 6:42 am by Rocky