Economic adviser Ebadi reveals the government's plan to sell "the national authority" soon to citize

by **wciappetta** Mon 18 Jan 2016, 5:31 am

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Economic adviser Ebadi reveals the government's plan to sell "the national authority" soon to citize

by wciappetta Mon 18 Jan 2016, 5:31 am

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Press direction - Special /
Detect the appearance of Mohammed Saleh Economic Adviser to the Prime Minister about the government's plan to sell "the national authority" close to citizens as part of the domestic borrowing plan carried out by the Iraqi government to meet the fiscal deficit in the budget for 2016.
Saleh and through the program "now," which displays on the screen direction said that Iraq is going through a real crisis severe financial hardship, and the problem is financial flows of the budget that comes from oil imports, which is the first source where he became low due to lower world oil prices, Iraq has approached the sale barrel oil to the $ 20 despite the improvement of the Southern Oil exports, which rose to 3.3 million barrels per day, excluding other regions, and it is in terms of quantities exceeded the figures set out in the budget of 2016, indicating that determine the budget price of oil to $ 45, while sales are being priced at 25 dollars per barrel, is a temporary price can not be calculated for the end of this year, and that the cost of production, including the cost of development and investment is estimated at $ 10 a barrel and the remaining $ 15 is calculated for the state budget.
He added: country needs a price of $ 45 and the amount of 3.6 million barrels per day to fill the actual need of financial resources, and that these amounts are not sufficient to state budget only a period of 3 months and is not a full year, in case remained price at $ 25 and did not crumble more, referring to the Economic theory does not suggest that prices fall more than that because it would cause major losses for global companies invested in the countries of the region.
He continued: Iraqi government has a great interest about securing cash for the budget to meet the mission expenses, basic and on top of salaries and wages of staff of the armed forces and retirees who number about 8 million people process in addition to the 1.25 million people eligible social parishes, it has been the subject give full priority to ensuring the salaries These, stressing that there are several ways to secure the deficit in liquidity, including internal and external began work at home through financial treasury transfers that Stamnha the Ministry of Finance through the banking system and the central bank for a period of 3 months ahead, nothing to do with the mechanism reserve cash for the state of about 59 Billion dollar
Saleh explained that the other alternatives is a bond offering subject, called the "national authority" that all Iraqis have "a government" support the benefit of not less than 10% per annum can be pledged or sold so the bond in the secondary market and can be purchased from the government and private banks, and that he will present in the coming period Bmoisat work on remittances Treasury.

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