Detecting shocking information on the 2018 surplus

Detecting shocking information on the 2018 surplus

September 29, 2018 – 14:04

Detecting shocking information on the 2018 surplusBAGHDAD (Reuters) – Iraq’s budget surplus (2018) has almost covered the size of the planned fiscal deficit, an economist said Saturday.

Ahmed Hazal said in a press statement that the budget surplus (2018) in Iraq covered almost the size of the planned deficit, because increases resulting from high oil prices prevented domestic and foreign borrowing, according to a statement by the Ministry of Finance, spending in the first half of this year about (30) While the revenues amounted to (45) trillion dinars, while the surplus of this year is almost equal (15) trillion, and the ministry confirmed that the budget deficit amounted to real (19) trillion dinars and not (12) trillion dinars as planned, what is it The case would be if oil prices did not rise. ”

He added that “we will definitely go to the public debt channel because we do not have any other, even if the interest-free borrowing will often be negative for future generations because the imbalance in the budget prevents any growth in sectors with reliance on the oil well on the one hand and abuse and control on the other hand “He said.

“Whether it is time to look at events logically and realistically, is it not worth working on the logic of the economy and the dictates of cost-return? Why do we insist on continuing the same mistake?”

The economic expert pointed out that “Iraqi oil is sold less than (7) dollars from the basket of oil, because it contains a large proportion of water and impurities, in one period Iraq has exported a quantity of oil to one of the European countries, and the agreement that the Iraqi oil falls in it Water percentage and other impurities. When the shipment arrived in the European country, it was found to contain a large amount of water. The western side demanded a fine and paid for the liquidation of the oil, as well as reducing the quantity sold after liquidation. ”

“When oil is extracted, it is usual to get a technical defect that needs to be repaired, whether it is in the pipes or the oil wells, and this takes a long time, leading to a reduction in the quantities sold,” he said.

He called for the need to develop at least one sector, and to lead Iraq as an economist who knows what to do, and to make the decision according to the economic logic that comes close to reality. Not all the country’s revenues from crude oil, not all public debt, oil and public debt syndrome Leave this country, and will eliminate what can be saved for future generations if this arbitrary pattern continues. ”

He attributed the economic expert in the Iraqi Fund for Foreign Development Hussein al-Khakani, today, during a special statement “to the trend Press”, the reason for the decline in Iraqi oil prices from the world market is water and impurities, where the oil from the well to the export pipeline without passing the tanks of liquidation where oil should remain Stagnant for at least 48 hours to precipitate the impurities and impurities and isolate water from crude oil and then pumped to export pipelines. ”