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Reduce the budget deficit needs an efficient administration
15/11/2016 1:52
[rtl]BAGHDAD / Imad emirate
economists continue to read the contents of the draft federal budget law for 2017, focusing on trends aimed to reduce the deficit and undermine it through their proposals that take several forms. The nature of the laws and procedures governing the work offiscal policy control in any country plays a major role in determining the course and thesize of the budget deficit within the overall framework of these policies, and when the macroeconomic imbalances and clear , the need to carry out financial reforms is inevitable
to determine the size of the reduction required attainable fiscal deficit and the length oftime possible application and discuss the factors that could have an impact on theamount of the reduction of the deficit.
It is scheduled to witness the coming days , approval of the draft federal budget law for 2017 , after conducting a review of minutes before the House of Representatives, especially as the current year budget was approved in record time late
last year.
In this regard , an economic expert , Dr. Akram Abdel Aziz confirmed that reform of thebudget deficit of 20 percent , a process that requires public finance reform traditional Ppaduadtha expenses and general revenues, and that dealing with the budget deficit requires research in various aspects underlie the continuing shortfall and Tname
and accumulation.
She stressed that the search for a way out to overcome the deficit in the budget entails the rationalization and restructuring of public expenditure as well as reforming the tax actually diversify revenue, noting that the expansion of government activity is directly responsible for the economic activity, it also affects indirectly, through spending and mobilize resources on the way you use resources in economic activity.
It is said that borrowing, the Treasury vouchers internal, external and government bonds is one of the solutions to alleviate the shortfall , along with international loans and grants, but the revitalization of the national economy and activating the productive sectors significantly reduces the negative effects resulting from borrowing -hsp opinion specialists and Bra-.
She drew Abdul Aziz said some specialized studies have shown that financial mismanagement was a major cause for various problems such as the increasing size of the deficit the general budget of the state , along with heightened rates of inflation and weak growth in production or development in a negative way.
The total planned deficit for the general budget for 2017 amounted to 21 Trliuna and 659 billion and 739 million and 790 000 dinars, while the financial allocations estimated for the same year 79 Trliuna and 11 billion and 421 million dinars, and calculated therevenue earned from the export of crude oil at a rate of $ 42 per barrel.
She said Abdul Aziz: The strategy of financial reform concentrated reconsider fiscal policy as a key element in the conduct of the course of economic reform and structural adjustment, adding that fiscal policy trends is the head of the determinants of economic development at the local and international levels.
"In many cases , we can not carry out structural reform inclusive of the policies ofgovernment spending , but in the medium - term framework based on research in thefactors that drive public spending towards increasing, as there are arguments in economic circles confirm that he is not in the situation reform of financial imbalances once cut expenses , but in the reconsidered by revenue structure, in particular , and research in the reality of the
tax systems. "
He continued: fiscal policy is approved efforts to achieve full employment andgovernment attempts by public spending and public borrowing and tax policies as well as those policies that rely as an adjunct to the elimination of inflationary and deflationary gaps.
Abdul Aziz pointed out that the reduction of the fiscal deficit through budget management efficiently serves as the basis for the step necessary not Zala structural imbalances inparticular that the budget reflects the extent of liability undertaken by taxpayers and creditors of the government as well as the financial strength of the government sector within the overall financial control , with the possibility of achieving economic well - being in the overall economy by giving priority to different activities in the allocation ofresources
(budget) administration.
It showed: public spending requires that the measures taken on the deficit reduction willnot be based on quantitative criteria only that it is necessary to take into account thequality and sustainability of deficit reduction programs, pointing out the need to be cut public spending and a realistic and logical measures, and be doable from an economic, political and social aspects .[/rtl]
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