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The Iraq Central Bank will assist in deficit reduction through economic development. The plan in action. It's becoming very clear.
Parliamentary Economic Commission announces the possibility of reducing the budget deficit
1/7/2015 0:00
BAGHDAD - Agencies
Parliamentary Economic Commission announced the possibility of a reduction in the federal budget deficit for 2015.
The committee member said Jawad al-Bolani in a press statement that "there is a possibility to follow the budget deficit and reduced administration."
He noted that "deficit reduction is through the Central Bank's support for activities that help us to overcome the economic downturn." He stressed the need to "provide special activities of financial institutions to move the market."
Bolani said that "the draft budget is currently in Parliament had studied experts, academics and all those interested in the budget as one of the important topics and sensitive."
He said the Commission continues to follow the government's economic plans, pointing to encourage investment and reactivate agriculture and industry sectors to add other financial resources other than oil to the general budget.
The budget deficit in 2015 amounted to 25 trillion dinars from the budget of 125 trillion dinars size.
It is worth mentioning that the year 2014 has seen the adoption of general budget for Iraq.
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