A former official at the Central Bank: Money Box main Astnzvth expenses

A former official at the Central Bank: Money Box main Astnzvth expenses


 Baghdad / Wael grace


Said senior economist and deputy governor of the Central Bank of the previous appearance of Mohammed Saleh, said the money fund Iraq's main it contains usually at about 18 billion dollars is enough necessary expenses and guaranteed for six months, while the decline in the amount currently, due to increased expenses, to a third, and spread concern among circles concerned, at the time you say informed sources that he is no longer the only four billion dollars.
, and most likely in favor of the government will not be able to control the budget deficit this year to the instability of the level of oil sales, but a member of the parliamentary Economic Committee played down fears of bankruptcy and pointed out that the current deficit expected.
Development Fund for Iraq and DFI form under UN Security Council Resolution 1483 to protect Iraqi funds from international claims and pirated after the events of the year 2003. It means the word of experts that Iraq has lost relaxation relatively in expenses, and that any obstruction in the rates of export of oil or the fluctuation in prices, will affect more quickly on the ability of government spending, amid a political crisis unprecedented in the country.
said economic expert and Vice former Central Bank the appearance of Mohammed Saleh "long" that "Iraq builds budget deficit by default, so that calculates the price of a barrel of oil at less than global prices of $ 15," stressing that "the funds in the Development Fund for Iraq, was an asset well from which to cover the deficit repeated in every budget."
explained Saleh, said that "Iraq possessed between 2012 and 2013.18 billion in the fund dfi, and the amount is enough for the salaries of the staff of Iraq for six months," but he says that "between 2013.2014 - according to IMF data - fell to 6.3 billion dollars . "
He sees that "the expenses of Iraq on the rise over the past years, has been unable to achieve the level of export two million and 600 thousand barrels per day - according to Planned in 2013 - is a stable day, which caused a decline in the balance of Iraq in the Development Fund for Iraq."
The benefit of the reduced balance of Iraq in the Fund dfi index scary, especially since the budget deficit of between 30 and 40 billion dollars during the current year, stressing that Iraq will not be able to control the deficit, but that the "issue a daily 2.9 million barrels, after the agreement with the Kurdistan export 400 000 barrels, which is worth 16 billion dollars, and sell a barrel of oil at a price of $ 105, "but he questioned the ability of Iraq to stabilize the levels of sales, the price of oil, which sells when Iraq is far less than $ 105, also stresses the importance of reaching an agreement" quiet "with Kurdistan to export oil.
draws economic expert said the lack of control of Iraq to the deficit in the current year budget, will lead to reducing the project investment and service, "which basically having problems annual deficit is settled on the road projects is carried out annually." A report issued by the International Center for Development Studies, based in London, warned, bankruptcy of Iraq in three years because of the budget deficit, which now threatens the Iraqi oil sector is clearly, as I have indicated that the military operations in Anbar daily cost of $ 7 million. The former Vice President Adel Abdul Mahdi, said a few days ago that "the assets of the Treasury (DFI) decreased from (18.5 billion dollars) to the end of 2012 (6.5 m / d) end of (2013) .. and .. oil exports fell, reaching last December ( 2.341 m / b / d) and (2.229 m / b / d) in January, while the adopted budget (3.4 m / b / d) of which (400,000) barrels of Kurdistan. fallen oil resources to January last to 7 billion dollars, after it was (7.4) billion dollars last December, according to the Ministry of Oil. remained oil prices up to (+100) dollars / barrel .. and subtracting the expenses will not be much higher than the budget estimate ($ 90) .. It is expected, "the IMF international "oil prices fell to 103 dollars / barrel in 2014 and 100 in 2015, while the minimum that meets the budget estimates is (106.1) U.S. $ / barrel for Brent. Meanwhile, reduced member of the parliamentary Economic Committee, Qusay al-Abadi of fears the arrival of Iraq to the brink of bankruptcy, said the "long" that "fears Bankruptcy in Iraq is unjustified, especially since Iraq is still the issue of oil levels of seriousness," noting that "the month of February, Iraq could export 2.0006 million barrels a day." The Abadi said that "Iraq puts oil money every month in the Development Fund for Iraq, and withdrawn on a monthly basis, but does not have stocks in the fund because of high costs," pointing out that the only year in which jammed our money in the fund dfi was in 2012, reaching amounts to 18 billion dollars. And a member of the Economic Commission explains the presence of large amounts of 2012 in the Development Fund for Iraq, but "that year was not the spending and the disruption of a number of projects, so Iraq did not withdraw large sums from the reserve." Asked Adel Abdul Mahdi, a former deputy president of the republic, in an article the newspaper justice "Do we go back to borrow also proposes to pay on credit and IMF special drawing rights, etc. .. or increase our Treasury bonds, which are collected to borrow from the public .. or use, trespassing , the central bank reserves (77 billion dollars) .. which also means violation of the laws and taken from the people, by causing the decline of the value of the dinar and rising prices, which will provide the liquidity that was what, Vlochehr is only a few. "

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