“Parliamentary Finance” calls to borrow from domestic and foreign banks to remedy the budget deficit
“Parliamentary Finance” calls to borrow from domestic and foreign banks to remedy the budget deficit
Posted, MARCH 22ST, 2015
27 trillion dinars in Iraqi markets .. and Treasury-free circular
BAGHDAD – promised Shammari:
the Finance Committee in the House of Representatives revealed, on Saturday, about the size of the national money in the Iraqi market, confirming that it was up to 27 trillion dinars, but said at the same time that the Treasury devoid of these amounts, and that all oil revenues are distributed by about direct salaried state employees, stressing that the current trend will be to borrow from domestic and foreign banks to cope with the budget deficit, which irritated senior economist, who called for the measures do not increase the burden on the country.
He said member of the Finance Committee prosecution unable Mohammed said in a statement to the “New Morning” that “the information that you talk about the existence of a cash crisis in Iraq is totally incorrect.”
He said Mohammed, the leader of the Bloc Kurdish change that “the total Iraqi funds, banks and market up to 27 trillion dinars.” , believes that “these amounts are good and can be handled away from exposure to any crisis could hit the Iraqi economy.”
expresses a member of the Finance Committee deplored “the fact that the government is taking cash procedures in isolation from the House of Representatives, although the latter is the regulator the highest in the country.”
But Mohammed returned to show that “the central bank continuously issuing banknotes according studied plans to cover any shortfall could happen because of cases of damage in the currency in circulation, are not affecting the inflation negative.”
For his part, the other member of the Finance Committee Jabbar Abdul Khaliq supports the view of Muhammad in the presence of big money in the market, but it indicates that “the crisis related to the treasury the state.”
He said Abdul Khaliq, MP for the coalition of state law in an interview with the “morning new” that “the treasury almost empty and there is a round of oil revenues from the previous months.”
He noted that “all Iraq’s imports of oil to be distributed directly at the end of the month on consumer outlets, especially salaries of state employees.”
Abdul-Khaliq said that “recourse to domestic and foreign banks to borrow and fill Matrouh deficit and strongly in the coming days option; because the measure passed in the House Representatives within the budget law for 2015. ”
On the other side, an economist Manaf find a hunter that “solutions that are moving to the government is incorrect and affect the situation in Iraq and increase the burden of it.”
He continued prevailing in an interview with “New Morning” that “has already provided the specialists several options before approving the budget to cope with the current crisis. ”
He noted that “including Treasury bills put forward to the public and traded through the stock market and sold benefits for 5 years, and that this action will move the market to the benefit of the state and citizens at the same time.”
He added hunter “can also be go to projects that achieve quick profit at the forefront of investment land within the city, instead of resorting to medium projects come their returns late and need to be expensive administration. ”
The House of Representatives voted in (January 29, 2015), the draft federal budget for the current year law worth in excess of Al119 trillion dinars and a deficit of about 25 trillion
newsabah.com
