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Borrowing from the International Monetary unconditional lifting of subsidies on electricity, ration and salary cuts

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Borrowing from the International Monetary unconditional lifting of subsidies on electricity, ration and salary cuts





11/17/15

BAGHDAD / Mohammad Sabah

Condition of the International Monetary Fund removal of subsidies on electricity and the ration card to provide loans Iraqi government is trying to fill the projected deficit in the budget of 2016. The Fund has also expressed strong about the size of salaries paid by Baghdad salaries reservations, calling on them to reconsider.
Members of the Parliamentary Finance Committee believes that the terms of the fund is not new, as it put it on the Iraqi side in the previous budgets.
Previously, the International Monetary Fund, to give Iraq $ 1.25 billion in emergency aid. Iraqi officials and qualify the stated amount that the government is seeking to borrow from the International Foundation which is based in Washington based.
He said parliamentarians, last week (range Press), that "the budget law includes loans fictional exceed 14 billion dollars to cover the deficit in it."
MP says Jabbar Abdul Khaliq, a member of the Parliamentary Finance Committee (range), that "the reservations of the International Monetary Fund revolve around sectors supported by the government and included electricity and fuel subsidies and the ration card sector," noting that "the fund wants to raise support for these sectors to be borrowing process."
said Abdul Khaliq " These objections are not new terms put forward by the International Monetary in previous budgets in order to facilitate borrowing process, but did not take place because of the situation and the circumstances through which Iraq.
"On the negotiations conducted by Iraq, representatives of Finance and Planning and oil, the Board of Control and the Central Bank, with the International Monetary Fund ministries , explains a member of the Finance Committee that "the IMF global institution sober you want to follow up on government spending and whether international standards depends."
The member bloc state law that "the main purpose of the removal of subsidies on these sectors, demanded by the IMF; in order to go the money Government Stguetrdha to other sectors more important.
"He said a member of the Finance Committee by saying that" the International Monetary Fund is considering how to recover the money Siqtrdha Iraq rather than she went to this consumer sectors, "pointing out that" the main objective of the Fund lies in trying to figure out where to go These funds Siqtrdha Iraq.
"said MP Abdul Khaliq said" allocated for the ration card amounts 2.5 trillion dinars, and increases by just allocated to the Ministry of Electricity amounts in the budget of 2016 ".
It notes the MP to be" among the things that showed the International Monetary Fund reservations on them are paid salaries staff funds overburden from the shoulders of the budget size. "The International Monetary Fund announced last Saturday that the cabinet would amend the 2016 budget in line with the macroeconomic framework of the program watched by the Fund. But the Finance Committee member Jabbar Abdul Khaliq denies the government to withdraw the federal budget of the Board of Law House of Representatives to make adjustments in line with the demands of the International Monetary Fund. in turn confirms the Attorney able Mohammed, the other member of the Finance Committee, said that "the International Monetary Fund gave tips to the Iraqi government to increase financial support for electricity, fuel and ration card sectors and demanded that Iraq spending commensurate with the size of its revenues . "says MP Mohammad, told the (range)," The International Monetary Fund believes that in the event of reduced public spending will be able to weather the financial crisis and can repay all loans, "stressing that" the IMF aims behind these reservations to improve the economy Iraqi for next year. "warns member of the Finance Committee that" in the event of continued central bank sold the dollar auction currency, it threatens to fall in foreign exchange, which sees the International Monetary Fund the matter serious reserves. "In contrast, the Finance Committee in parliament, described the figures contained in the budget" Balkhialah "and far from reality. The committee member said Masood Haider in an interview to the (long-Presse) that" the numbers in the budget are fictional and far numbers from reality, "noting that" oil revenues based on the export of 3.6 million barrels of Iraqi state can not export more than three million barrel. "Haider added that" Iraq sell its oil at a price of $ 45 per barrel and must guess the oil on the basis of $ 40, "pointing out that" oil imports up in accordance with the export and global oil prices between 50-51 trillion dinars roof. "Haider stressed that "Non-oil imports to end the month of August 2015 reached a trillion and 200 billion Iraqi dinars It is possible that up to two trillion dinars and in the best cases up 5 trillion dinars It is difficult to up to 15 Trliuna".

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