Iraq faces a real deficit in the budget and coverage are subject to an improvement in oil prices
Economic center: Iraq faces a real deficit in the budget and coverage are subject to an improvement in oil prices
21-12-2014 03:02 PM
Economic center confirmed that Iraq this year faces a real deficit is different from previous years, which was the deficit is unrealistic, as it is today, at present covered by the improvement in oil prices, noting that the deficit reached up to 36 trillion dinars.
The head of the Economic Information Center, Dargham Muhammad Ali, in a press statement seen by (newsletter): ‘that the budgets of the past years have seen a digitally deficit only, and is not realistic, because the real revenue difference compared Baltkhmona, while the current year deficit is likely to be real and difficult covered this value within the traditional government tools’.
He pointed out that ‘domestic and international debt very limited capacity in case relied upon, and that he can not actually cover more than 7 to 8 trillion, while the rest, it will be a deficit in the budget, it is difficult covered’.
He expressed the hope offering more practical alternatives to reduce or bridge the budget deficit with attempts to reduce it to the minimum.
The parliamentary Finance Committee member Ahmed Sarhan, has revealed on Saturday, for the general budget for 2015, details, explaining that the size of 111 trillion dinars, with a low proportion of the deficit to 36 trillion.
A member of the Commission in a press statement that oil imports account for a total of 98 trillion dinars from the budget, while 13 trillion of non-oil imports.
The total public expenditure of 148 trillion, while the current expenditure 103 trillion, 45 trillion and investment, while distributed trillion and 934 billion between providing the ration card items, electric power, and the Hajj and Umrah, and other expenses.