Government “optimistic” the treatment of the budget deficit through borrowing 11 trillion Iraqi dinars
Government “optimistic” the treatment of the budget deficit through borrowing 11 trillion Iraqi dinars
2/20/2015 2:29 p.m.
Long-Presse / Baghdad
Counting the Information Office of the Prime Minister, Haider al-Abadi, on Friday, to borrow nearly 11 trillion dinars from the Central Bank and the Rafidain and Rasheed, can be treated with balancing the current 2015 deficit, expressing optimism that contribute to the high price of oil to world markets by reducing the deficit, while only economic expert understanding of the government’s need to borrow as a result of “heavy legacy” inherited from its predecessor, although it matters “undesirable”, returned to the internal him better than the outside, for easy to deal with.
A spokesman for the office, Saad al-Sabri, in an interview to the (long-Presse), “The domestic borrowing was approved in the current 2015 budget law, through the Central Bank of Iraq to purchase worth six trillion dinars of Treasury bills and money orders,” returned to it. ” is a process of borrowing lined. ”
The newborn, that “the government would borrow nearly five trillion dinars from other bank Rafidain and Rasheed, according to the approved budget, too,” returned that “it can be treated part of the current fiscal deficit.”
He explained a spokesman for the Information Office of the slaves, that the “precautionary measures put in the budget, while the price of a barrel of oil is expected about fifty dollars,” adding, “but that the price rose to between $ 60 to $ 65 a barrel and is expected to continue climbing in the coming weeks, what contributes reduce the current budget deficit of 25 trillion dinars. ”
For his part, said economic expert, Majid picture, in an interview to the (long-Presse), said that “Iraq is passing through a very large exceptional economic crisis, and there are a lot of challenges for the new government, security First, as well as the heavy legacy of its predecessor, Prime Minister Nuri al-Maliki,” surprising from “a lack of funds from the previous round, and the use of all those in the Development Fund for Iraq, for purposes not yet known because of the adoption of the past 2014 budget.”
He pointed out the picture, that “the budget passed for the government domestic borrowing or outside” the law, adding, “But the problem is not in the process of borrowing alone, but needed to complete the long procedures.”
Promised an economist, that “borrowing by about a year of threads undesirable, but the government may be forced to it,” he continued, though the “internal borrowing the best from the outside, because the latter gives rise to international obligations on Iraq, when it could be the first extension or deal with him in Easier “.
The Iraqi Council of Representatives, passed in (the 29th of January 2015), the financial budget bill for the current year 2015, of which 119 trillion Iraqi dinars, and a deficit of 25 trillion dinars.
It is noteworthy that world oil prices have lost nearly 60 percent of its value, during the last term to drop to below $ 50, before recently re recovery.
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