Because of the deficit .. warnings from the International Monetary Fund objection on the budget
Because of the deficit .. warnings from the International Monetary Fund objection on the budget
02/27/2014
BAGHDAD / JD / .. Committee warned the economy and investment representative, the objection of the International Monetary Fund on the federal budget for the year 2014 due to increase its fiscal deficit to more than 35 billion dollars.
A member of the Committee MP Hussein Mura’bi Agency / JD /: “The increasing deficit of the general federal budget to more than 35 billion dollars will play objection large and categorical rejection by the International Monetary Fund and the World Bank, because it will lead to problems of economic and financial in the country and perhaps affect the market becomes faulty and conflicts between fiscal and monetary policy of the country. ”
He added: “Any increase in the amount added to the budget setting calls to restore the budget bill to the government, but this time not allowed to bring it back to the government, especially as the time remaining for the lifetime of the parliament a few days.”
He said: “The House of Representatives has the authority to transfers and rotate some financial allocations for sectors within the general budget and the relay to the laws that have been added to the budget into law pension and social welfare and student grants and so on, in addition to recycling the remaining funds from the previous budget, and the anticipated increase the production and export of oil planned during the current year and in which they can provide extra money for the budget. ”
A number of MPs and economists have expressed fears of increasing federal budget deficit public to (50) billion dollars, as a result of the adoption of the pension law and allocations petro $ 5, which would be about 7 trillion dinars, and the allocation of (5) trillion dinars covered by amending the law of political prisoners , in addition to the adoption of the Unified Retirement Law, which included a significant increase salaried retirees.
Experts warned during their talk in remarks earlier told / JD / Balahtiat use of cash of foreign currency to the Central Bank to fill the shortfall in the budget, he is sovereign balance can not be manipulated.
Economic expert, Dr. Mohammad al-Hassani, said: “The total amount of the public budget is not enough to meet the claims by either local governments or the people, especially after the claims of oil-producing provinces amounts of petro $ 5 and approval of the pension law in its current form, explaining that the amounts of petro $ 5 and pensions as well as Other allocations for added laws embarked linked to the budget deficit will make the current year budget of $ 50 billion. “/ Finished / 8 /
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