(Voice of Iraq) - Ibrahim Saleh Iraqi government recognizes represented by the Ministry finances that next year will be the year the most difficult financially, but at the same time did not take action that would put the solutions that could mitigate the impact of the accumulated pressures embodied in the form of a double shock for Iraq, which fought in charge of terrorism economically on the one hand and suffering declining revenues on the other. Vemoazinh 2016 approved by the government in the eighteenth of October (Oct.) and arrived at the House of Representatives days before the pending vote on the deficit ratio of the (26.5) per cent of the total expenses of 113.5 trillion Iraqi dinars, or that the deficit planned for approximately (29.5) trillion dinars as the total revenue of 84 trillion only. the problem of balancing this is divided into two parts, the first of respect to the probability of the inability of Iraq to achieve total revenue of 84 trillion mainly The second is linked to helplessness of (29.5) trillion, which will enter its coverage of Iraq mechanisms in the financial maze do not know the end. Speaking on the first part of the problem, this budget was based on crude oil sales revenues increased by 83 per cent of the total projected income any (69.7) trillion dinars out of 84 trillion, a figure that is difficult to access it with no reassurance that oil prices in the global market would be consistent with the price set by Iraq in its budget b (45) US $ as well as not knowing whether to export the specified ceiling (3.6) million barrels per day in the budget would be possible at the time. The rest of the revenue provided for in the budget, amounting to (14.3) trillion dinars and to be covered from non-oil revenues may be is also not possible in case things were not as planned by the government, especially as it depends on taxes, fees and other subject to change from one day to another income. The second part of the budget and of the planned deficit him it stems from the mechanisms to obtain sufficient funds to cover this deficit are at most a loans and international bonds may provide for Iraq what he wants over the next year but aggravation of its problems in the years subsequent It is interesting that the budget suggested the issuance of Iraq's international bonds, which fell officially reported. All of these reasons and put the Iraqi government proceedings before the question large and concern of economists who do not seem reassured that the next year will pass in peace with all the other problems facing Iraq starting Bmadilth security through political Bozmth and the end of many others. other oil states such as Venezuela, for example, although the other circumstances better than Iraq, but did not enter itself in the swirling undesirable consequences even been taken into account plans described globally daring to avoid fluctuations in the mood of the global oil market by reducing the price fixed to (40) dollars and not (45) as well as not to resort to foreign loans as Iraq did. "The Iraqi government venture but a gamble in a dangerous game of unpredictable consequences attitudes, optimism can not lead to positive results as soon as optimism without being there Answer each question for the consequences of each step the government decides to take, ".. Bassam spokesman says an economic researcher. He adds as" identify high oil price and high ceiling for export and to develop is uncertain of non-oil revenue numbers and rely on all large loans scary indicators of what will be the economic situation Iraq if there is no clear line of the government towards access to adequate resources to pay for all these amounts set out in the budget. "The show as the fear of the inability of the Iraqi government from the repayment of loans that are trying to make use of them to fill the budget leads to larger deficits in subsequent budgets of the country's deficit, which aggravation of the crisis means gradually moved from year to year. The international parties entered on the line expressing concern that the Iraqi government mechanisms for the payment of the budget like the United States of America that have expressed these concerns openly Finance Minister Hoshyar Zebari, in the words of US Assistant Secretary of State for Financial Finance and International Development Ambassador deficit Lisa Kubiski during the International Conference of the World Bank and the International Monetary Fund in Lima, capital of Peru. However, the major international institutions such as the IMF and other banks and institutions believe that Iraq will not suffer from a liquidity crisis, although it was officially dropped from the issuance of international bonds because of the lack of contentment donors to this It is what drove her to impose high interest rates almost to strangle Iraq for many years. The IMF other grant Iraq a loan did not reveal its value after but it will fold the emergency funding that fund it agreed in July to July of this year and the $ (1.24) billion US dollars. "Fund for Iraq could give a large loan in 2016 to help him achieve financial stability at a time when Baghdad suffer because of falling oil prices and the war being waged against Daash" .. Masood Ahmed Director, Middle East and Central Asia Department says in the box. He adds Ahmed said "Baghdad is not currently in danger of running out of cash because they can postpone investment projects and rely on the financing of the central bank if necessary, but the government needs to develop a clear and comprehensive plan to reform the finances and the program of the International Monetary Fund could help in that. "It also expresses Ahmed hoped to build what he called a record of policy implementation as a basis another program funding from the International Monetary Fund later than next year. Iraq is counting on such a large loan and other loans referred to by the budget in deficit coverage but also go beyond it in reliable in the face of any emergency possible. It seems that the pressures imposed by the need for that pay for the war against terrorism and operating expenses driven by popular protests in the country as well as the dues of oil companies operating in the country, which provide all of the most important supplier costs factors make Iraq risks in approving the budget seen by some scary financial problems may be the lesser of other problems, particularly that related to Panevlat security or for example, the protests get out of control or failure of oil companies to perform their work.
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