Tuesday 24 February 2015 | 19:05
Decline in world oil prices and the emergence of a threat Daash, aggravated it worse for Iraq
Current year 2015 will be difficult, as the ministry which will have to pay lists of national expenditures month by month
Finance Minister, Hoshyar Zebari acknowledged that Iraq has squandered $ 18 billion was in the Development Fund in 2013 as a result of mismanagement.
Zebari said in a press statement, the Financial Times reported Financial Times UK, said that "Iraq has squandered what possessed of cash during confront the sharp drop in oil prices, and being forced to spend large sums of money to cover the war against al-Daash terrorist cost, enabling him to impose a series of austerity measures." .
The Finance Minister said that "the decline in world oil prices and the emergence of a threat Daash, aggravated it worse for Iraq", recognizing that "the current 2015 will be difficult, as the ministry which will have to pay the national lists of expenses month by month." Saw Zebari, that "Iraq needs to restructure its economy comprehensive, and diversify sources of national income guarantee for new financial returns."
He said Zebari, that "the current crisis in Iraq represents an opportunity to examine in depth the reality of the case of the national economy, revealing weaknesses in the structure," pointing out that "the government is in talks with the International Monetary Fund to get $ Meyera grants development to cover the cost projects in the sectors of electricity and agriculture." .
He ruled out the Iraqi Minister of Finance, "the withdrawal of funds from the central bank reserves amounting to $ 67 billion, fearing the impact on the value of the dinar," adding, "But the government may consider borrowing from abroad."
He said Zebari, that "the main priority for the country now is after maintaining the momentum of the face Daash, securing liquidity for the disbursement of state employees totaling three million and 500 thousand people salaries", Msttrda that "public servants' salaries the most important priority for the Ministry to ensure not to create backlash against the government, because they pose a problem if it is delayed even for five or ten days. "
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