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Parliamentary Economy: 2016 budget free of grades and projects

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Parliamentary Economy: 2016 budget free of grades and projects





11/23/15



BAGHDAD / Noor Ali - Ibrahim Ibrahim

Committee announced the economy parliamentary, on Sunday, that the real deficit budget in 2016 amounted to 30 trillion dinars, confirming they are free of grades and assignments projects, while economists called on the government not to load citizen extra expenses to meet the budget deficit without work on the multiplicity of financial resources of the state, noting that the fiscal deficit for the year 2016 and a slight far from the expectations of the Finance Committee.
She said a member of the economic and investment commission parliamentary Nora Albjara in an interview for the "long", that "the budget deficit amounted to about 30 trillion dinars, describing it balancing the difficult, uncertain they are free of projects and job grades, and restricted to pay employees' salaries, and armament, and degrees of the Ministry of Defence only" .
"The government told us they will send the text of the amendment to the budget bill in the coming days, to reduce the proportion of the deficit, the Finance Committee of the multiple procedures to reduce the value of the deficit, increased by 7 trillion dinars and then vote on the law."
She explained Albjara that "balancing 2016 budget is a very difficult, and will not satisfy the citizens, both graduates who are waiting for the grades, or IDPs living conditions difficult because of the lack of appropriations necessary.
"She noted that" the main problem lies in the continued decline of oil prices, in addition to the lack of strategic plans by Government to find other financial outlets can be relied upon to increase the doors of customizations.
"rose by saying that" Previous years have seen a surplus of financial abundance in their budgets, but not utilized in the development of industrial and agricultural aspects of operations to be a substitute for oil, but the money spent on luxury and non-essential aspects of , what caused severe embarrassment in light of the economic crisis experienced by the country. " The Iraqi Council of Representatives decided, in (the 17th of November the current 2015), call the ministers of finance, planning and oil, to demonstrate the government's view on the financial budget bill for the year coming in 2016.
The House of Representatives on the same day ended, the second reading of the draft budget law for 2016, after he had finished the first reading in (the tenth of this November).
In turn, an economist Maitham Laibi said in an interview for the "long", that "address the budget deficit from consumer finance borne indirectly, through transfer of purchasing power from the citizen to the government, instead of external financing that is usually borne by future generations, which has been rejected politically and socially, despite the fact that its effects do not appear on the current purchasing power of individuals at the moment.
"He added that" this measure is the least expensive of political, social and stir less burdensome, but not the safest, especially as the current generation refuses to pay the cost directly through reductions in salaries or the exchange rate or of customs tariffs or taxes and fees for services.
"He said the coffee that" domestic borrowing is one of the basic solutions available to the government to overcome the fiscal deficit, which contain 2016 budget without resorting to prosthesis solutions do not fit with the current situation of the country and need a period of time to achieve them.
"He said the" government in economic trouble as a result of its lack of a variety of financial resources, so it take quick action without prejudice to the ruling assignments in the budget. "For his part, economist said Resan Hatem in interview (term) that "the deficit, which passed in the budget of 2015 more than the percentage of the deficit for 2016 rate, and that the sudden drop in oil prices recently has exceeded expectations." He added that "there are traces negative owed ​​on the deficit operating and investment expenses, even if we go back to the budgets of the past Previous considering that this exceptional year has seen a significant decline in oil prices and saw the adoption of the budget is almost up rate of 90% or more for operating expenses nearly enough just to cover the wage salaries. "He said Hatem" to return to the budgets that were acknowledge earlier, most of which were to start with a deficit and ending with a surplus Based to this data and previous figures we can say that the deficit for next year, a slight deficit, because the budget has been approved on the basis of operating expenses increased by much more than investment expenditure. "He said the" priority will certainly be at the launch of the budget to pay salaries and allocations of the popular crowd and the social protection network, as well as financing items ration card, and is considered priority operational expenses will have. "He noted that" the government is preparing a study to reduce the deficit in the budget, such as resorting to internal and external loans, and that will reduce the deficit ratio Absolutely. "reminder to the Council of Ministers approved, in (the 18th of October the first in 2015), the draft federal budget law for next year 2016, total expenses amounting to 106 trillion dinars, and the expected deficit of nearly 23 trillion dinars.

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