The government program committee discloses a sharp decline in state revenues and warns of a crisis i

by **Rocky** Mon 16 Sep 2019, 2:49 am

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Post n°1

The government program committee discloses a sharp decline in state revenues and warns of a crisis i

by Rocky Mon 16 Sep 2019, 2:49 am

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The government program committee discloses a sharp decline in state revenues and warns of a crisis in Iraq

2019/09/16 01:37:31

A member of the follow-up committee for the implementation of the government program for the parliamentary bloc of Sairon Anam Khuzaie on Monday on the rates of sharp decline in revenues of the state oil and non-oil, warning of the possibility of a severe economic crisis.

"Contrary to the government program, the fourth axis of which focused on maximizing non-oil revenues (eg customs taxes) and monitoring public debt to ensure that it remains within the limits of financial sustainability, the government did not actually seek to maximize non-oil revenues," Khuzaie said in a statement. Revealing the decline in oil prices from nearly $ 80 to $ 50 during the past months.

She added, "Unfortunately, the customs agreements between Iraq and neighboring countries have incurred heavy budget losses, especially with the granting of these countries customs exemptions and reducing the characteristics of income, which led to a decline in non-oil revenues significantly, pointing out that" official figures indicate a decline in non-oil revenues from (8.6) trillion dinars until the end of August of 2018 to nearly (3) trillion dinars until the end of August of 2019.

"This was accompanied by another serious decline in total investment expenditures from (16.3) to (11.2) trillion dinars for the same period," said a member of the Follow-up Committee of the implementation of the government program, pointing out that "this indicates a weak investment effort for this year despite what was allocated by the general budget By 32% this year compared to the same period last year.

Al-Khuzaie continued, "and justifies the concern of the performance of the government decline in oil revenues, Iraq has achieved nearly (84) trillion dinars since the beginning of 2018 until August of the same year," pointing out that "this year has witnessed a sharp decline in oil revenues, Oil revenues did not exceed (53) trillion dinars only, which is a decline in oil revenues by (37%) during the current year from 2018.

She explained that "the above figures disclose very important financial facts, the first decline in oil revenues and weak expectations about the recovery of oil prices, and the second decline in non-oil revenues due to the policies of exemptions (free of charge) followed by the current government," warning "of the possibility of an economic crisis Khanaqah warns of inflated levels of government fiscal deficit again and likely widening public debt, both internal and external.

"Finally, the investment budget figures fully reflect the deterioration of public services in the country, despite the huge budgets that are approved annually to improve the reality of services and raise the living standard of the citizen," she concluded.

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by **Rocky** Mon 16 Sep 2019, 3:55 am

Rocky

Rocky: Admin Assist; Posts : 259866
Join date : 2012-12-21

Post n°2

MP discusses "sharp" decline in state revenues and warns of "severe economic crisis"

by Rocky Mon 16 Sep 2019, 3:55 am

MP discusses "sharp" decline in state revenues and warns of "severe economic crisis"

10:23 - 16/09/2019

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Information / Baghdad ..

A member of the follow-up committee for the implementation of the government program on the parliamentary bloc of Sairon Al-Khazai, on Monday, the rates of sharp decline in revenues of the state oil and non-oil, warning of the possibility of a severe economic crisis.

In contrast to the government program, the fourth axis focused on maximizing non-oil revenues (e.g. customs taxes) and monitoring public debt to ensure that it remains within the limits of financial sustainability; "The price of oil has fallen from nearly $ 80 to $ 50 over the past months," he said.

Al-Khuzaie added that "Unfortunately, the customs agreements between [You must be registered and logged in to see this link.] and neighboring countries have incurred heavy losses on the public budget, especially with granting these countries exemptions from customs and reducing the attributes of income, which led to a decline in non-oil revenues." Oil from (8.6) trillion dinars until the end of August of 2018 to nearly (3) trillion dinars until the end of August of 2019. ”

"This was accompanied by another serious decline in total investment expenditures from (16.3) to (11.2) trillion dinars for the same period mentioned, noting that: This indicates weak investment effort for this year, despite what was monitored by the general budget because of a decrease of (32%) this This is in contrast to the government program follow-up report which indicates high results in the completion of investment projects. ”

Al-Khuzaie added that “justifying the concern of the government performance of the decline in oil revenues, [You must be registered and logged in to see this link.] has achieved nearly (84) trillion dinars since the beginning of 2018 until August of the same year,” pointing out that “this year has witnessed a sharp decline in oil revenues As the oil revenues did not exceed (53) trillion dinars only, that is, oil revenues fell by (37%) during the current year from 2018. ''

She explained, "The above figures reveal very important financial facts, the first decline in oil revenues and weak expectations about the recovery of oil prices, and the second decline in non-oil revenues due to policies of exemptions (free of charge) followed by the current government," warning of the possibility of a crisis A suffocating economy threatens to inflate the levels of government deficit again and the likelihood of widening public debt, both internal and external.

Al-Khuzaie said that “the investment budget figures fully reflect the deterioration of the reality of public services in the country despite the huge budgets approved annually to improve the reality of services and raise the living standard of the citizen.” Done / 25

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The government program committee discloses a sharp decline in state revenues and warns of a crisis i

The government program committee discloses a sharp decline in state revenues and warns of a crisis i

The government program committee discloses a sharp decline in state revenues and warns of a crisis in Iraq

MP discusses "sharp" decline in state revenues and warns of "severe economic crisis"

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