Obelisk" dialogue MP Najiba: the state is not "bankrupt" cash reserves exceed $ 59 billion
1/21/16
BAGHDAD / Obelisk: MP Najiba Najib, a member of the Economic Committee in the Iraqi Council of Representatives, in an interview with "obelisk" said the government is capable of securing state employees' salaries for 2016, and talk about the deficit in the payment of salaries, untrue.
Najiba confirmed that the state is not "bankrupt", and Iraq has a cash reserve estimated at more than $ 59 billion.
Najib stressed that the financial crisis makes it imperative for Iraq to fight corruption and the recovery of the looted money and increase non-oil revenues through taxes.
Najiba also considered that one of the ways to support the economy, is in the sale of property of the state that are at the disposal of political parties and personalities, noting that the conversion of government institutions to the private sector puts the economy on track.
Najib also revealed that the recovery of the looted money fund has done is required, and needs to diplomatic efforts of the Ministry of Foreign Affairs through embassies Iraq to recover the stolen funds.
The following is the text of the interview:
- What is the reason for the financial crisis that has plagued Iraq?
The main reason is the dependence on oil as a key resource and a key to the country, and oil prices down sharply and this means that there is a significant drop in revenue, and the state is obliged to secure the war against Daash requirements and provide relief to the displaced and the salaries of staff and these obligations are inevitable.
- What are the solutions to address the crisis and the advancement of the Iraqi economy?
Must fight corruption and recover stolen funds, and increase non-oil revenues through taxes, and to review the monetary policy, by experts and specialists in this field.
There is also the property of the state at the disposal of political parties and personalities, it should be taken back and sold procedures, where will generate money for the state.
The other solution in the issuance of state treasury bonds, and the granting of the Ministry of Finance validity issued and displayed in the global market for sale to address part of the financial crisis, and must take urgent to transfer some government institutions and steps to the private sector to put the state on the right track.
- What is the role of committees to recover the looted money?
The laws of legislation in the Iraqi parliament, through which the formation of the recovery of funds looted Fund in 2012 was the work of the committees ended at that time, but the Fund has not done is required and it needs to diplomatic efforts of the Ministry of Foreign Affairs through embassies, to recover Iraq funds that were stolen and smuggled to abroad.
The funds that have been very few recovered compared with the money that fled size .. and a lot of that money to invest, which is now at the disposal of fake names outside the country, and therefore there must be serious by the Iraqi government to indicate the sources of those funds to be returned ..
- In any country invest money contraband?
Iraqi smuggled money to invest in some Arab countries such as Lebanon, the UAE, Turkey, Britain and other countries under the names and addresses and fake, and therefore must access to these funds and retrieval ..
- Does the State will be able to pay employees' salaries?
State able to secure salaries for 2016 and talk about it is untrue, because the state is not "bankrupt" Iraq has a financial reserve estimated at more than $ 59 billion.
- How many infrastructure which stopped because of the financial crisis projects?
More than 7 thousand project stopped because of the financial crisis, but there are treatments, through the participation of private sector companies with the government sector to complete some of these important projects.
- Stop what health appointments for a period of 3 years?
Operating expenses size and large grandfather of the draft federal budget for the current year law and one of the pressure on those expenses ways is to stop appointments despite the presence of 34 000 degrees and careers allocated within 2016, mostly for security and defense, education, health and key sectors budget you'll get a share of appointments but the secondary will reduce its operating expenses.
- Are you going to do tax laws?
There committees problem at Cabinet level to activate the collection and increase non-oil revenues conjecture in the 2016 budget of 13 trillion Iraqi dinars.
- Today we are talking about a financial crisis in the Kurdistan region?
Led oil prices fell to aggravate the economic difficulties of the Kurdistan region, which began in early 2014. The region suffers from a debt ranging between 15 and 18 billion dollars, and there are plans to raise funds from abroad, such as soft loans and plans of financial rescue agreements prior payment and liquidation of assets, including oil infrastructure .
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1/21/16
BAGHDAD / Obelisk: MP Najiba Najib, a member of the Economic Committee in the Iraqi Council of Representatives, in an interview with "obelisk" said the government is capable of securing state employees' salaries for 2016, and talk about the deficit in the payment of salaries, untrue.
Najiba confirmed that the state is not "bankrupt", and Iraq has a cash reserve estimated at more than $ 59 billion.
Najib stressed that the financial crisis makes it imperative for Iraq to fight corruption and the recovery of the looted money and increase non-oil revenues through taxes.
Najiba also considered that one of the ways to support the economy, is in the sale of property of the state that are at the disposal of political parties and personalities, noting that the conversion of government institutions to the private sector puts the economy on track.
Najib also revealed that the recovery of the looted money fund has done is required, and needs to diplomatic efforts of the Ministry of Foreign Affairs through embassies Iraq to recover the stolen funds.
The following is the text of the interview:
- What is the reason for the financial crisis that has plagued Iraq?
The main reason is the dependence on oil as a key resource and a key to the country, and oil prices down sharply and this means that there is a significant drop in revenue, and the state is obliged to secure the war against Daash requirements and provide relief to the displaced and the salaries of staff and these obligations are inevitable.
- What are the solutions to address the crisis and the advancement of the Iraqi economy?
Must fight corruption and recover stolen funds, and increase non-oil revenues through taxes, and to review the monetary policy, by experts and specialists in this field.
There is also the property of the state at the disposal of political parties and personalities, it should be taken back and sold procedures, where will generate money for the state.
The other solution in the issuance of state treasury bonds, and the granting of the Ministry of Finance validity issued and displayed in the global market for sale to address part of the financial crisis, and must take urgent to transfer some government institutions and steps to the private sector to put the state on the right track.
- What is the role of committees to recover the looted money?
The laws of legislation in the Iraqi parliament, through which the formation of the recovery of funds looted Fund in 2012 was the work of the committees ended at that time, but the Fund has not done is required and it needs to diplomatic efforts of the Ministry of Foreign Affairs through embassies, to recover Iraq funds that were stolen and smuggled to abroad.
The funds that have been very few recovered compared with the money that fled size .. and a lot of that money to invest, which is now at the disposal of fake names outside the country, and therefore there must be serious by the Iraqi government to indicate the sources of those funds to be returned ..
- In any country invest money contraband?
Iraqi smuggled money to invest in some Arab countries such as Lebanon, the UAE, Turkey, Britain and other countries under the names and addresses and fake, and therefore must access to these funds and retrieval ..
- Does the State will be able to pay employees' salaries?
State able to secure salaries for 2016 and talk about it is untrue, because the state is not "bankrupt" Iraq has a financial reserve estimated at more than $ 59 billion.
- How many infrastructure which stopped because of the financial crisis projects?
More than 7 thousand project stopped because of the financial crisis, but there are treatments, through the participation of private sector companies with the government sector to complete some of these important projects.
- Stop what health appointments for a period of 3 years?
Operating expenses size and large grandfather of the draft federal budget for the current year law and one of the pressure on those expenses ways is to stop appointments despite the presence of 34 000 degrees and careers allocated within 2016, mostly for security and defense, education, health and key sectors budget you'll get a share of appointments but the secondary will reduce its operating expenses.
- Are you going to do tax laws?
There committees problem at Cabinet level to activate the collection and increase non-oil revenues conjecture in the 2016 budget of 13 trillion Iraqi dinars.
- Today we are talking about a financial crisis in the Kurdistan region?
Led oil prices fell to aggravate the economic difficulties of the Kurdistan region, which began in early 2014. The region suffers from a debt ranging between 15 and 18 billion dollars, and there are plans to raise funds from abroad, such as soft loans and plans of financial rescue agreements prior payment and liquidation of assets, including oil infrastructure .
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