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Central Bank advised not to borrow to bridge the budget deficit because it would cause a deficit for

Rocky

Rocky: Admin Assist; Posts : 268390
Join date : 2012-12-21

Post n°1

Central Bank advised not to borrow to bridge the budget deficit because it would cause a deficit for

by Rocky Tue 15 Apr 2014, 12:01 pm

Central Bank advised not to borrow to bridge the budget deficit because it would cause a deficit for years

Tue Apr 15 2014 four twenty-seven p.m. | (Voice of Iraq) - Tomorrow's Press / Baghdad
showed Iraqi Central Bank Governor agency Abdel Basset Turki, on Tuesday, did not support the Iraq Multi feet to borrow from the World Bank to fill a budget shortfall this year, indicating that the borrowing will reduce deficit for the current year only, while resulting in a larger deficit in coming years. He said Turkish for "tomorrow's Press", "The program proposed by the Ministry of Finance to fill the budget deficit for the current year through access to external financing is not feasible," noting that "the financing of the deficit in ways that external would reduce the deficit for this year only, while resulting in a deficit bigger in the years to come." ., adding that "the central bank suggests compression expenses and reduce the gap in the deficit before considering obtaining external funding." He was Minister of Finance and serenity net debt agency announced, last Sunday, that Iraq presented a program of the World Bank intends it to get a loan to bridge the shortfall in the budget for the year Current, while noting that there are talks with the bank to provide financial liquidity for projects if they are not provided by the government. mention that Finance Minister Ali Shukri announced in October 2013, ending the draft budget for Iraq Federation for the next year 2014, which will amount to 174 billion U.S. dollars. It is noteworthy that the state budget for the current year did not acknowledge until now been sent to the government for nearly three months to the House of Representatives and is awaiting inclusion on the agenda, while stalling the Presidency for inclusion due to the lack of agreement of the political blocs on them.

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