Net: the country has entered a fiscal year does not have the balance for the first time since 2003
Net: the country has entered a fiscal year does not have the balance for the first time since 2003
Confirmed increase the budget of the province 4 trillion dinars
Basra – Saad Al-Sammak said the Minister of Finance Agency purity of net debt that the country has entered a fiscal year does not stock them for the first time in its history after the fall of the dictatorial regime, declaring increase the budget of the Kurdistan region 4 trillion dinars act of good faith by the central government to end differences. As minister warned of the possibility of increasing the fiscal deficit due to increased orders, denied the existence of any assignments outside the terms of the budget submitted to the House of Representatives is “illegal.” high expenses Net said in an interview with a lengthy “morning”: that “the country has entered a fiscal year does not the balance of her for the first time in its history after the fall of the dictatorial regime, is what can be produced from oil to cover the high costs resulting from legislation issued by the House of Representatives without reference to the federal government. ” and added that “many of the laws passed and have had a substantial financial commitments confound the budget because of poor liquidity, “pointing to” the existence of an opening balance of the estimated six billion dollars which is less than last year, up 5 percent. ” and on the frequency of the statements of some politicians about the existence of the expenses of outside assignments assessments, the minister said: “The expenses outside the customizations are expenses have their legal basis, it may be through laws issued by the parliament during the last year and need to amounts will not be within the budget, but had to dispensing the law of Parliament, and there are the necessities of the task of the government sees through the decisions issued by the Council of Ministers that there will be expenses Kasalaf budgets for the coming years . ” However, he stressed “the absence of any expenses from the Iraqi treasury without any face legal.” and played down the minister of the impact of political crises and the financial with the country on the future of the country, especially on the conduct of affairs of the state and the employees’ salaries to the fact that the state has resources other than those in budget through the use of mechanisms according to the law to benefit from some amount of money in the country with the present in banks and funds identified with the possibility of the use of funds in the central bank. ” crisis with the region and in relation to the crisis with the province, Safi said in the meeting, which took place just hours before the announcement Erbil is ready to export oil through the company “Sumo”: “before sending the amended budget to the cabinet a week there were meetings with the Kurdistan on the amount of oil produced and exported from the province and the expenses of the companies operating region was utmost seriousness and transparency and was overwhelmed by the kind of understanding and a genuine desire of the federal government to reach to the results related to the amounts of companies operating in the region, but the latter did not show any cooperation in a positive way with the federal government are conducive to the solution of this file. , and continued: “The proposed formula approved by the Kurds went to the Council of Ministers to defuse core of the dispute between the center and the region on human oil companies operating in the country and the region on the basis of delivery of the region 400 000 barrels per day to the Federal Ministry of Oil. ” He Net that “the perspective of the provincial government focused on the payment of operating expenses for the oil companies operating in the province by the federal government, which in turn agreed to pay, but the conditions found contracts and check disbursements by the Office of Financial Supervision in accordance with the law in force was the answer province that the expenses of production expenses too high up to 18 Trliuna, and thus withdraw from the budget, which led us to make a proposal not to include the costs of the expenses of operating companies across the country within the sovereign expenditure recorded Within expenses normal for the withdrawal of all the arguments offered by the provincial government of the center. ” noted the minister that “the region’s share before the proposal was estimated at 16 Trliuna other words, when the costs to companies operating in the province within the sovereign will become after the transfer to the usual 20 Trliuna behind an extra card up to 4 trillion deducted from the share of the center as a sign of good faith of the government center. ” He also stressed that the government agreed to “hand over these amounts, however, the provincial government to pay part of the requirement subject to control BSA’s financial center to validate the expenditure,” noting that “the responsibility has become, however, the Kurdish people to monitor government for oil contracts in the province, especially the central government added a clause to transfer the amounts exported to the provincial government directly after the deduction of compensation Kuwait amounting to 5 percent imposed by the UN Security Council with a pledge to add additional amounts of oil imports to the provinces to the region’s share in the event of a shortage on the prescribed percentage 17 percent, according to the terms of the state budget, in addition to the right of the region to act in surplus oil allocated to the local needs of the province and sale of quantities of oil for the benefit of the region, but by SOMO Federal. ” Net indicated his consent to the proposal of the Kurds not to deduct the costs of any party or government activity within the sovereign expenditure unless it benefited the province of the general budget. Minister of Finance Agency explained that “if the open door to the amounts largest, has hit upon the requests to more than 200 trillion, for example, seeks the Minister of Education to build more schools and equip a way that sees the possibility of achievement, as well as the Minister of Water Resources and the ministers of municipal and housing, industry, health and other ministries seeking to get the money to cover the costs of their projects, despite the expiration of the period of the first quarter and the Palace of the remaining period of the year 2014, there are limits to the nature of the work of the financial as well as the possibilities of the companies on the implementation. the fiscal deficit As for the fiscal deficit, he said the net: “The ratio of budget deficit in 2014 in the first draft, which was submitted to the Council of Ministers reached 50 Trliuna, prompting the cabinet when he was offered (the budget) to form a committee to study the final estimate of the amended and reduced from before the Commission priorities ability of the committee formed by the Minister of Finance Agency and planning at the time, Dr. Ali Shukri, the Secretary General of the Council of Ministers and the President of the advisers before presenting it to the cabinet, as it was able to rationalize the budget and reduce the deficit official to 27 trillion dinars, with the reservation that the expenses are large and provide a recommendation to the General Secretariat to carry out the reduction for the second time in collaboration with the Ministry of Finance. ” and added that after receiving the portfolio of the Ministry of Finance, found that the committee plans to reduce some of the large expenses up to 10 percent of its size, “asserting that it had reached after consultations and deliberations to reduce the deficit to 20 Trliuna and seven per ten of the trillion dinars. and the impact of non-delivery of the oil, the minister said: “In the case of non-delivery of Kurdistan oil will increase the proportion of the deficit by more than 16 trillion dinars to become more than 40 Trliuna to offset the year 2014 after the addition of share-producing provinces within the law petro $ 5 each barrel product. noted the existence of mechanisms to cover the deficit before applying the balance between expenditure and revenue in different ways, including current income and additional revenue up to 30 trillion dinars to reach the budget planned at 170 Trliuna, explaining that it will be through the exchange loans from the World Bank Trust Fund and the issuance of treasury bonds in amounts for the first time to move the process of Finance. announced start processing bonds and issuing money orders treasury short-term months and the value of not more than 200 billion dinars, as well as the price difference is achieved by high oil prices, the global market, stressing that the government will be able to cover the deficit existing budget. , but he stressed that the lack of approving the budget will lead to disruption of existing and new projects, nor can the government do new projects, in addition to obstructed ongoing projects that need funding from the budget of the issuance of bonds and remittances and borrowing, especially in the year was characterized by revenues few are called to apply the exchange rate 12/1 of the actual expenditures for the year 2013 which is estimated at 9 trillion dinars, which is just enough to fund essential needs too. false accusations in regards to the accusations against the Government on some budget items, Safi said: “The campaign suffered by the Prime Minister and Minister of Finance Agency was a false accusations intentions and objectives are known, stressing that he “would have been better Erd and defend the rights of the Iraqi people to give justification to the region to detain Iraqi oil product, which belongs to the Iraqi people, and as demanded salaries of the rights of oil to other governorates, a right, but they at the same time not be held Iraqi oil in Kurdistan. ” He described the position of the central government position sense, noting that the prime minister because of the political circumstances faced by the country as Prime Minister of Iraq and not to look to the provincial government by shortening its performance, may face pay the salaries of the region for the month of February, exclusively in a gesture of goodwill. ” Emaar Anbar and on the money allocated for Anbar province, said net allocation billion dollars for the reconstruction of Anbar, noting that the Council of Ministers has agreed to include the budget in 2014 the amount of one billion dollars to be spent on the reconstruction of the province due to military operations and to compensate those affected by the terrorist attacks.