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Parliament warns of bankruptcy of the government during the four months if you do not pass the budget

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Committees called Barlmanatan financial and economic, on Tuesday, to deal seriously with the warnings of the International Monetary Fund on increased government spending, and its implications for monetary reserves, while showed the Finance Committee that the government is "threatened with bankruptcy" within four months if you do not pass the budget, saw its counterpart economic , estimates that the budget "did not take" into account the regional and global developments, and it has prepared about "hazy and unclear" and was a "mere allocations", warning of prejudice Iraq's financial reserves of hard currency.

The head of the parliamentary Finance Committee, Haider al-Abadi, said in an interview to the newspaper (range), "The calendar IMF spending plans of government, just expectations may believe has been incredible," returned to "calculate the budget based on $ 90 per barrel of oil, not quite are doing. "

Abadi added, that "it is radically different in the case of the collapse of the global economy," noting that "the reduction of the price of a barrel of oil in the calculation of the budget cuts needed for many in government spending."

The International Monetary Fund has warned the Iraqi government to proceed with the implementation of its plans the spending for the year 2014 the current, confirming that it would face rates of "inflation standard" lead to the depletion of the country's reserves of hard currency, expressing the need for Iraq because the oil is $ 105 at the very least to be able to achieve a balance in budget.

Go back to that another member of the Finance Committee, the IMF report on increased government spending, as a "logical", attributing to the fact that "the accounts of the Iraqi state and its resources all depend on oil."

The MP said Dler Abdul Qadir, in an interview to the newspaper (range), "The restoration of Iran of its international and extraction of coal in large quantities in the United States, affecting oil prices," expected "decline in the price of oil to global markets, which will have a negative impact on the federal budget."

And saw Abdel-Qader, that "Iraq can not fulfill the size of the amounts or quantities of oil estimated in the budget," likely to be "facing the oil revenues in the coming year a large deficit."

A member of the Finance Committee, the need to "address the deficit before approving the budget in 2014 to avoid any economic disaster," he continued, "if what was the budget deficit ratio of 50 percent, it requires the State to bankruptcy, despite the exclusion of the decline in world oil prices to below $ 90 ".

For his part, he saw a member of the parliamentary Economic Committee, Mahma Khalil, "The budget estimates did not take into account the developments in the euro and the regions of Southeast Asia, as it overlooked the Iranian relations with the six world powers, and the owner of a breakthrough, and the production of OPEC."

Khalil said, in an interview to the newspaper (range), that "the economic vision that prepared the federal budget was foggy and unclear and did not put specialists and concerned," adding that it "is not just a budget allocations."

He warned the Kurdistan Alliance MP, from "beyond the Government or any other party on the reserve fund in Iraq DFI or the central bank," expressing his fear that "the decline in oil prices leads to the worsening budget deficit estimated at more than it is currently."

And the voice of the Iraqi cabinet, in (the 15th of January 2014), to approve a bill the federal budget for the Republic of Iraq for the fiscal year 2014, and referred to the House of Representatives.

The parliamentary Finance Committee, announced in (the thirtieth of September 2013), that the current budget of the year 2014, amounting to 174.6 trillion dinars, indicating that the bulk of which was allocated to the sectors of energy and security.

But the draft budget suffers from enticements many highlighted the differences between Baghdad and Erbil, which impedes discussed in parliament, as happened on Tuesday, when he walked out of the National Alliance of the Council meeting to protest the failure to include a bill the federal budget, while showed presidency of the parliament, it deferred consideration of the project next Thursday to "fear" of the lack of quorum in the absence of the Kurdistan Alliance.

It is noteworthy that last year's budget in 2013 amounted to 138 trillion Iraqi dinars, on the basis of calculating the price of a barrel of oil at $ 90, and the amount of export of 2.0009 million barrels a day.

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