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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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    Government seeks to provide $ 13 billion austerity and 10% of the official expenses

    day dreamer
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    Government seeks to provide $ 13 billion austerity and 10% of the official expenses  Empty Government seeks to provide $ 13 billion austerity and 10% of the official expenses

    Post by day dreamer Mon 15 Dec 2014, 12:12 am

    12/15/2014 (00:01 pm) - The number of readings: 52 - Issue (3237)


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    [ltr]Government seeks to provide $ 13 billion austerity and 10% of the official expenses [/ltr]


    BAGHDAD / Mohammad Sabah

    [ltr]Parliamentary Finance Committee revealed, as government efforts to address the budget deficit because of falling oil prices through a series of austerity measures that would provide at least $ 13 billion.
     The Commission expects that the government resorted to dispose of 50% of the Rafidain and Rasheed bank reserves, as well as borrowing from the balance of the commercial bank and fund minors.
    Finance Committee suggested that includes austerity "luxury expenses sovereign", which said it accounts for 10% of the country's budget.
     Until the middle of last June the price of Brent crude to $ 115 a barrel, but the global markets closed, the end of the week on the price of $ 57.81, the lowest close since the middle of May 2009.
    The Finance Minister Hoshyar Zebari said that "the federal government will go to the imposition of taxes on mobile phone sales to bridge the shortfall in the budget, with the rationalization of expenditure and reduce costs."
    In this context, Jabbar Abdul Khaliq, a member of the Parliamentary Finance Committee's "long", says that "the sale of Iraqi crude oil arrived within a few hours to about $ 58 a barrel export and capacity of up to about three million barrels per day, including oil produced from the Kurdistan region of fields." .
    Abdul Khaliq and asserts that "the continued decline in oil prices will lead to
    Reduce next year's budget to unexpected numbers will include reducing the sovereign and investment expenditure strategy and major projects, "and saw that
    [rtl]"[/rtl]"Iraq will be the most affected countries of the falling prices of oil because it depends entirely on oil revenues."
     And about the negative effects that will leave falling oil prices on the Iraqi economy, the National Alliance MP commented by saying that "falling price of a barrel of oil for a dollar a day it costs the state budget loss is estimated at about $ 3 million," and wondered about the size of the loss in the event of the price of a barrel of oil at 50 dollars a day?
     And expected to address the projected shortfall in the budget, government actions
     Public, likely a member of the Finance Committee, "the trend towards reducing the unnecessary expenditure of luxury expenditures sovereign and expenses, estimated at 10%, which includes the three presidencies, ministers and independent bodies and the ration card salaries."
     But Deputy Jabbar Abdul Khaliq emphasizes that "social welfare and retirees and the ration card and the salaries of government employees' salaries will not be covered by the reduction is expected in the general budget," but he pointed out that "the presence of the idea of ​​the government to reduce the banking cash reserve for Rosetta and Mesopotamia from 15% to half of the Currency to address crisis in oil prices. "
     And see a member of the Parliamentary Finance Committee that "cut the cash reserve for government banks would provide $ 6 billion to the state treasury as well as the government's borrowing from commercial bank financing of up to $ 3 billion, in addition to the borrowed amount billion to care for minors body on the grounds that These frozen funds will be owed by the state added
     Its treasury transfers will provide $ 3 billion. "
     National Alliance MP and asserts that "all of these amounts will ensure the
    The draft general budget for the year 2015 Act and to address the deficit and lower oil prices, "but ruled out" the government resorting to reserves of the Central Bank, which is estimated B77 billion dollars because they are not authorized to freely dispose of this amount. "
    Abdul-Jabbar and warns of "manipulating reserves of the Central Bank to its effects
    Severe on the dinar exchange rate, "stressing that" the Iraqi state is
     Bankrupt but has no cash problem will be solved in the near time through the procedures that will be followed. "
     Turn speaking appearance of Mohammed Saleh, an economic advisor to the Prime Minister, for "a government directed to address the price decline in the quantities of oil production during a visit to meet the financial shortfall." The new
    Confirmation that the "Committee of Five ministerial end of the budget bill in the coming days."
    The Oil Ministry has announced the preliminary statistical oil exports for the month of November last, which has achieved a rise in the average daily quantities of exported crude oil compared to previous months, reaching an average of 2.51 million barrels a sale price of $ 70.4 per barrel.
    Confirms Saleh, in a statement to the "long", that "oil estimates in the budget next year will be correct but they differ from last year's budget
    Estimates that were inaccurate. "
     He also points out that "alternatives that would resort to the government to cover the deficit in the consolidation of some resources, such as fees and taxes to get the revenue that possible raise the size of the income."
    Saleh revealed that the "tax the size of the budget year 2014 up to $ 1.5 billion," saying it was "a few and do not constitute anything," and predicted that "the high rate of taxes in the next budget to 2%, accounting for with 10% of the size of the gross domestic product."
    In turn calls Bassem Jamil Anton, an economist told the "term", the government has to "activation of industrial, health and tourism sector and the private sector to run a large number of the workforce of
    To eliminate the drop in oil prices, "stressing that" This move will reduce the dependence on oil revenues. "
     Anton reveals that "Iraq imported consumer goods 75 billion dollars a year and therefore, the activation of the private sector will reduce the size and this will reduce poverty rates by up to 30% after the recent wave of displacement and migration."
     Economist warns of lead falling oil prices to the investment sector stopped and sustainable development, and saw that it "will lead to a rise in population and a decline in per capita income, as well as the impact on the building of schools and hospitals."




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