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Central Bank to reconsider the budget confirms: financial institutions unable to cover deficit
Range press/Baghdad
The Iraqi Central Bank announced on Sunday that Iraq's financial reserve equivalent to one and a half times the mass of cash, returned as "the best" in the world, with the Iraqi financial institutions unable to cover the deficit, he stressed the need to review the structure of the budget, expenditure and income diversification and achieving greater investment to address the decline in oil prices.
He said the Iraqi Central Bank Governor Ali allaq told several media including (range press), on the sidelines of attending the third Conference of internal financial controls established by the Secretariat to the Cabinet, today, at the Rashid Hotel, Baghdad, that "the Iraq today because of lower oil imports could be handled on two levels".
He said the relationship, "the first level can be processed in real time through the collection of the State of internal or external loans," he said, adding that "the second level is longer-term treatments by reviewing the structure of the economy and the financial management of the country and diversify sources of income".
He continued that "all Iraqi financial institutions will not be able to bridge the fiscal deficit in the country when it is in significant levels", stressing that "this is a structural review of the budget and structural expenditure and income diversification and investment and is the first alternative and the best for attracting heads of funds and labour".
He continued that "the Central Bank reserve funds variable number probably on a daily basis by oil exports and imports changed", pointing out that the "Central Bank holds reserves rate is very good rates in the world as measured by the money supply in circulation and this is the force that is made up."
The relationship that "Iraq reserves still cover the money supply by more than half in Iraq and is high compared with world coverage ranging from 70 to 100 percent."
The representative of the Supreme religious reference in Karbala, Sara, called in (16 January 2015) to review the general budget to suit the current situation, should accompany the process of "retrenchment" in support of agriculture and industry and protection of the domestic producer, with description of the resistance to government institutions to "disabled" in solving the country's problems, students benefit from the experience and scientists.
The Iraqi Parliament, ending the second reading of the draft budget law for the year 2015, during the fourth meeting of the second legislative term of the first legislative year, held on Monday (12 January 2015), the meeting was adjourned to Tuesday.
He called Iraqi Prime Minister Haidar Al-Abbadi, Saturday, (10 January 2015), during the celebration of the anniversary of the founding of the party, deputies not to return the budget to the Parliament the reduction and redeployment, with provincial student ministries "to open investment floodgates, warned that" the investment will be considered disabled crime like terrorism. "
The pledge House speaker Salim Al-jubouri in a speech during the ceremony itself, given the reduction in the Government's budget, the budget debate was nearly completed, and with the House of representatives has a red line and we exceed him the poor, demanded Prime Minister Haidar Al-Abbadi to the legislation on investment.
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Range press/Baghdad
The Iraqi Central Bank announced on Sunday that Iraq's financial reserve equivalent to one and a half times the mass of cash, returned as "the best" in the world, with the Iraqi financial institutions unable to cover the deficit, he stressed the need to review the structure of the budget, expenditure and income diversification and achieving greater investment to address the decline in oil prices.
He said the Iraqi Central Bank Governor Ali allaq told several media including (range press), on the sidelines of attending the third Conference of internal financial controls established by the Secretariat to the Cabinet, today, at the Rashid Hotel, Baghdad, that "the Iraq today because of lower oil imports could be handled on two levels".
He said the relationship, "the first level can be processed in real time through the collection of the State of internal or external loans," he said, adding that "the second level is longer-term treatments by reviewing the structure of the economy and the financial management of the country and diversify sources of income".
He continued that "all Iraqi financial institutions will not be able to bridge the fiscal deficit in the country when it is in significant levels", stressing that "this is a structural review of the budget and structural expenditure and income diversification and investment and is the first alternative and the best for attracting heads of funds and labour".
He continued that "the Central Bank reserve funds variable number probably on a daily basis by oil exports and imports changed", pointing out that the "Central Bank holds reserves rate is very good rates in the world as measured by the money supply in circulation and this is the force that is made up."
The relationship that "Iraq reserves still cover the money supply by more than half in Iraq and is high compared with world coverage ranging from 70 to 100 percent."
The representative of the Supreme religious reference in Karbala, Sara, called in (16 January 2015) to review the general budget to suit the current situation, should accompany the process of "retrenchment" in support of agriculture and industry and protection of the domestic producer, with description of the resistance to government institutions to "disabled" in solving the country's problems, students benefit from the experience and scientists.
The Iraqi Parliament, ending the second reading of the draft budget law for the year 2015, during the fourth meeting of the second legislative term of the first legislative year, held on Monday (12 January 2015), the meeting was adjourned to Tuesday.
He called Iraqi Prime Minister Haidar Al-Abbadi, Saturday, (10 January 2015), during the celebration of the anniversary of the founding of the party, deputies not to return the budget to the Parliament the reduction and redeployment, with provincial student ministries "to open investment floodgates, warned that" the investment will be considered disabled crime like terrorism. "
The pledge House speaker Salim Al-jubouri in a speech during the ceremony itself, given the reduction in the Government's budget, the budget debate was nearly completed, and with the House of representatives has a red line and we exceed him the poor, demanded Prime Minister Haidar Al-Abbadi to the legislation on investment.
[You must be registered and logged in to see this link.]
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