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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-stop investment projects and moving towards foreign currency reserves

    Rocky
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    • Post n°1

    Government-stop investment projects and moving towards foreign currency reserves Empty Government-stop investment projects and moving towards foreign currency reserves

    Post by Rocky Thu Jan 14, 2016 5:56 am

    [You must be registered and logged in to see this image.] Government-stop investment projects and moving towards foreign currency reserves

    date: Thursday 01.14.2016 0:37
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    Baghdad Alabarah- Bashir al-Araji 
    was arrested scarce financial returns of Iraq's various projects during the current year, where it came to the extreme difficulty in providing money to pay staff salaries, prompting the government to use stocks, foreign currencies to reduce the deficit, which up to a quarter of the current year's budget ratio. For the first time in 12 years, the price of a barrel of oil fell to less than $ 30, which predicts tough days on the countries that depend on the sale of oil as a resource Mali them, including Iraq, which failed over a decade ago to find a non-oil financial resources, has been considered by some as a " silver lining "to reconsider the economy of Iraq and the search for financial sources rely mainly on domestic production and opening the door for investment in real. According to the private for" Baghdad news sources ", the investment projects have been stopped in the country during the current year, except for the financing of some projects ongoing. The sources described the measure as will cause a lot of business in Iraq, and increase the rates of unemployment and impedes the circulation of funds in the market, are more than financial downturn during 2015, to keep relying on what employees spend on a daily basis, but action will not fill the money movement requirements in Iraq. For her part, member of the parliamentary finance committee pros Hamadoun that the State is obliged to pay the salaries of employees, but among the alternatives currently on the table, pay the salaries of some of the ministries of days delay and then re-spent if receiving the income earned from the sale of oil exports. She said Hamadoun told I followed "Baghdad News" The staff and accruals pensions of around 52 trillion dinars, a large proportion of the total public budget expenses, according to the amount of selling monthly oil, so the government will find it difficult to pay the employees' salaries during the period specified. It showed that some ministries began seriously considering the issue of contract employees and the measure because of the large groomed daily and the extent of the actual need for them and there will be economic studies to restructure those workers. She said the real crisis about the difficulty of funding for most government sectors, especially service ones, will be starting next February due to low oil prices in the global market. To it, the government said in a memorandum to the International Monetary Fund, it plans to finance the deficit in the balance of payments of withdrawal from Iraq's reserves of foreign what will make it go down to $ 43 billion in 2016 from 59 billion last October end. Indicating that under a program approved by the IMF as a precondition for the loan, it is expected that the balance of payments deficit of $ 14 billion in 2015, before shrinking to $ 11 billion in 2016.

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