Iraq is planning to three loans, one of them an international bridge the budget deficit
Iraq is planning to three loans, one of them an international bridge the budget deficit
31/03/2014
BAGHDAD / JD / .. revealed the parliamentary Economic Committee for the Iraqi government to resort to three options to fill the shortfall in the general budget of the country in 2014, while confirming that the deficit ratio exceeded 20 percent.
The committee member said Qusay al-Abadi in an interview / JD /, that the object in the budget deficit in 2014 exceeds 20%, and this figure will necessitate approval on Iraq to resort to borrowing from the World Bank, or the use of internal borrowing, or dispose of the cash reserve.
Abadi noted, that the reserve increase by the Iraqi information reached us.
A few days ago, threatened the World Bank, to develop Iraq in the black list, if the Iraqi government continued to intervene in the work of the central bank and private borrowing it.
He alluded Bahaa al-Araji, chairman of the Parliamentary Integrity Committee said in a statement last Tuesday, received / JD / copy of it, that the World Bank met in Amman and attended by representatives from Iraq, and warned the reform of those policies and stop government interference in the work of the central bank and private borrowing it, otherwise Iraq will be put on the blacklist.
The recall Araji, the sanctions imposed on the former regime, and led to the deterioration of the Iraqi dinar and its negative effects on the Iraqi situation.
He said al-Araji called on the government to desist from such interventions with the development of financial and economic policy through which avoids the Iraq crisis.
The Committee on the economy and investment representative, the federal government has threatened to legally held them accountable when Balahtiat use of cash in foreign currency with the central bank to bridge the budget deficit.
Said committee member Rep. Nora Albjara in an earlier statement to the Agency / JD /: “The use of the federal government looming sovereign balance located in the Central Bank of hard currency to meet the budget deficit is expected to be significant during this year.”
The chairman of the parliamentary Finance Committee Haider Abadi, a few weeks ago, that the financial reserves of Iraq amounted to a close, attributing the cause to the adoption of the federal government disbursement of funds in accordance with the defaults that the Kurdistan region of Iraq exported oil export and money belonging to the Federal Fund.
Ebadi said in a statement to some media: that Iraq two years ago spent funds based on hypothetical that the Kurdistan region exported oil and gives the share of 17% of the financial budget, revealing that “the government’s Reserve came to an end now, because the government acted him two years ago, and now the Ministry of Finance having difficulty in providing the salaries of some of the ministries of the Iraqi state.
Before more than a month, the International Monetary Fund said that the Iraqi government if it goes forward in the implementation of the spending plans for the year 2014, they will be recorded inflation record and drain the country’s reserves of hard currency. / End / Nazek Mohammed /
dananernews.com
