Thursday, October 1 / Okrudolf 30, 2014
Twilight News / missed more than one hundred Iraqi lawmaker on Thursday to host finance ministers and oil and they are planning session, Hoshyar Zebari, and Salman al-Jumaili and Adel Abdul-Mahdi, respectively.
And hosted the Majlis deputies, headed by Saleem al-Jubouri, head of the Council of Ministers in the presence of three 221 deputies.
He said Zebari during hosting quoting a statement to parliament reportedly for "Twilight News" that the ministry revised budget estimates by including all government decisions on the release of funds by 1 to 12, in addition to included the powers to launch exchange advances to face terrorism and all associated with this subject needs.
He explained that the expenditure amounted to 185 trillion dinars and expenditures current 103 trillion dinars of investment and expenditure 82 trillion dinars either revenue amounted to 105 trillion dinars and oil revenues of 96 trillion dinars and non-oil 9 trillion dinars, and the 79 planned deficit trillion dinars and after reduction amounted to 77 trillion and after the discount ranged between 39 -36 trillion dinars.
He said that the Council of Ministers formed a new committee during the current month to re-define the priorities required, leading to deficit reduction and rationalization of expenditure to below what can be planned in order to finance the deficit, where we were able to be reduced to about 27 Trliuna.
And confirmed the existence of a lack of crude oil source revenues due to lower prices and difficulties in production of security conditions, stressing that the withdrawal of the observed from the Development Fund for Iraq reserves during 2012 and 2013 affected economically and consequent financial commitments to a number of decisions and laws on compensation and the ration card and electrical projects.
He noted that the committee recommended funding deficit through the Special Drawing from the International Monetary Fund as well as the issuance of treasury transfers to the pension fund and the bank Rafidain and Rasheed, indicating that the amount of required deficit financing 21 trillion dinars, which Maittalb adoption of new styles, including the imposition of taxes on some luxury goods or communications.
And the Minister of Finance and the presence of several proposals, including an agreement with the Central Bank of EXTRA discount reservists law to 7 instead of 15% and a Trade Bank of Iraq to grant the Ministry of Finance loan of $ 3 billion and the issuance of securities, which means the survival of a financial deficit of about 5 trillion dinars, indicating near the launch batch Urgent money available to the province of Kurdistan and is currently working to prepare the budget for fiscal year 2015.
For his part, Minister of Planning and Salman al-Jumaili said the investment budget was in line with the security and development plan and has seen many changes to the budget, noting that his ministry is working on reducing the deficit alluding to the existence of the follow-up to the level of achievement on the projects.
He Jumaili that the Ministries of Defense and Interior have the largest proportion of the investment budget, noting that the ministry measures to re-prioritize the budget was adopted, calling for a re much consideration of policies over the past years is probable non-arrival of the situation to the case of austerity, but rather to rationalize the exchange.
For his part, said the oil minister, Adel Abdul-Mahdi said his ministry is to not prepare financial budget but concerned by the Iraqi economy's dependence on oil source, noting that it is not possible to provide the 2014 budget due to changes in oil prices and being useless with the end of the current year.
He pointed to the existence of a large hyperbole in spending requires treatment, he did not need Iraq to foreign debt because Maldih of resources equivalent to the budgets of four neighboring Arab countries, but the problem is the fact that the unilateral Iraqi economy depends on oil, which imposes on everyone to understand that the issue of continuing in this way will lead to Bankruptcy.
It was decided to adjourn the meeting to next Saturday 01/11/2014.
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