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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Ayad al-Samarrai warns of collapse of the Iraqi economy

    Rocky
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    Ayad al-Samarrai warns of collapse of the Iraqi economy Empty Ayad al-Samarrai warns of collapse of the Iraqi economy

    Post by Rocky Wed 22 Oct 2014, 6:37 am

    Ayad al-Samarrai warns of collapse of the Iraqi economy  



        October 22, 2014 12:32

     
    (Independent) .. The Secretary-General of the Iraqi Islamic Party, Ayad al-Samarrai deep concern and fear of what was to become of the economic situation in Iraq in light of successive crises and the situation in the region and the decline in oil prices in an unprecedented way.
    And between the Samurai in an article published under the title (of the Iraqi economy to the brink of collapse) that when he arrives, Brent crude to nearly $ 80 a barrel, it is not possible to determine the price of a barrel of oil in the Iraqi budget ninety dollars must set the price not to exceed $ 65 per barrel, I mean in simplified accounts that do not exceed the budget 2015 budget of what it was in 2010.
    He continued: If we know that the operating budget had risen gradually over the past five years, it means that the state investment budget will be exposed to a policy of austerity, pointing out that the cost of the face Daash and the preparation of the National Guard and trained and equipped and compensation heavy weapons and equipment lost by the Iraqi army in confrontations with Daash will generate pressure has no parallel on the budget.
    He criticized the Samurai performance the previous government, which has expanded in the operating budget and finance committee of the previous learn all that and a blind eye to it, in light of turning investment budgets a way to steal public money unchecked, stressing that, Dr. Abadi and Finance Minister to find solutions to the problem of a devastated economy is not its oil revenue only after the industry collapsed and fell into fertile agricultural areas of Iraq and the task, however Daash.
    He added that the problem of Kirkuk and the Kurdistan region are increasing the difficulty of the subject and its complexity, wondering: The 2015 budget must be reduced by 30% of the budget in 2014 Is the Ministry of Finance will be able to address the issue. (End)

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    Ayad al-Samarrai warns of collapse of the Iraqi economy Empty Re: Ayad al-Samarrai warns of collapse of the Iraqi economy

    Post by Rocky Wed 22 Oct 2014, 6:37 am

    Iraq's economy on the brink of collapse 


      October 22, 2014 12:29

     
    In light of the security crisis experienced by Iraq and rearranging papers and complete the construction of the government in preparation for the resumption of work, seeing oil prices, a big drop exceeded what it was the price in 2010, and there may be further decline with what was announced that some OPEC countries are not ready to reduce its output.
    The decline in oil prices is not a purely economic issue but linked to political considerations and this is not our subject, but what concerns us talk about is what does that mean for Iraq?
    Iraq sells its oil at a discount of up to ten dollars a barrel for the world price, and therefore when it reaches Brent crude to nearly $ 80 a barrel, it is not possible to determine the price of a barrel of oil in the Iraqi budget ninety dollars and must be determined price not to exceed $ 65 per barrel, and this means Simplified in the accounts that do not exceed the budget 2015 budget of what it was in 2010.
    If we know that the operating budget had risen gradually over the past five years, it means that the state investment budget will be exposed to a policy of austerity that is not secured by other sources to finance the investment budget was an interview with Prime Minister al-Abadi clear in this area.
    Today we face great challenges, the cost of the face Daash and prepare the National Guard and trained and outfitted with heavy weapons and compensate for equipment lost by the Iraqi army in confrontations with Daash will generate not unprecedented pressure on the budget.
    As the former Iraqi government expanded in the operating budget, and we touched it year after year without any regard for the future and the prospect of lower oil prices, believing that the increase in production offset what may be the decline in prices.
    We have tried in the past alert for that and find stability or growth is simple in the operating budget to calculate the expansion of the investment budget, but we did not find deaf hear, but turned investment budgets a way to steal public money unchecked and become thefts officials of public money modern society and modern both follow the situation in Iraq .
    Maybe bears the Prime Minister of the current Dr. Abadi relatively aspect of this responsibility has been chairman of the Finance Committee for four years and Sayre government requests in the expansion of spending, and now Dr. Abadi said he finds and his finance minister solutions to the problem of a devastated economy it has no income except oil after collapsed industry, fell areas of Iraq fertile agricultural and important, however Daash, and those areas handed over production of grain to the Ministry of Commerce, but the farmers did not receive eighths of what Soukoh so in light of the current situation will be difficult for them to cultivate their land, but if you find Daash them to solve, even if it did, it would have replaced the state Iraqi and closer relations between them and their interests on the Daash with all that this entails risks to the future.
    State still paying huge salaries to tens of thousands of subscribing to the armed forces, although it was unable to repel Daash them, as it continues to pay the salaries of large numbers of other employees displaced, even though they actually stopped working it can not, but it can not abdicate their responsibility and this represents a material burden on the budget without charge a service or where it would come economic state with all this money?
    Indeed, he says that the Kirkuk oil and oil of Kurdistan have become outside the administration of the central government and it is being exported away from them, so they will stand in front of the author of the Iraqi budget is a big problem, namely: How will the estimates and according to any account and what the fate of the production, which is subject to the control of Kurdish, which can be up and inclusive of Kirkuk oil to one million and a half barrels a day, and this problem was intransigence former reason not to reach out to the solution, but led to further complications.
    In our view that any solution no matter what some saw as unfair better than the absence of a solution, and this point of contention between me and a number of ministers of the previous government who insist on their own vision for their problem with the province, the oil province of Kurdistan should be in the budget accounts and enters them is not important who would assume administration or sold and the proceeds but must appear in the budget.
    Budget 2015 must be less than the 30% of the budget in 2014 Is the Ministry of Finance will be able to address the issue, as it must be, how severe austerity measures and that there are multiple claims of the Kurdistan region and from various sectors in the community benefits and the security situation.
    I can not hide my deep concern on the economic situation, which is heading toward the Great Depression in the light of these merits, and I remember in the end that one of the Western studies discreet and almost a year ago predicted that Iraq would be subjected to bankruptcy in 2017 if not changed policies of the government of Iraq, and I think that our ministers specialists briefed on This report, which was seen by some mockingly but we have to look at it more seriously today.
     
    The important question here: How do we stop the collapse of the Iraqi economy? And that the focus of our conversation in the second section of this article.


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