Parliament is still demanding to cut expenses in preparation for the adoption of the budget during the week
Parliament is still demanding to cut expenses in preparation for the adoption of the budget during the week
10/01/2015 (00:01 pm)
BAGHDAD / Mohammad Sabah
Parliamentary Economic Commission revealed, for the government went to pay off the debts of foreign oil companies through external borrowing by issuing treasury bonds worth $ 12 billion.
As said the budget deficit rose to 43 trillion dinars due to the continued decline in oil prices, the government called for a postponement of the payment of foreign loans worth 3.733 trillion dinars.
On the other hand the Finance Committee confirmed that it has not been any transfers in the doors of the budget until the completion of retrenchment and discussed, “indicating that the next week’s federal budget will be ready to vote. ”
repeatedly accused the government put exaggerated allocations within the current austerity conditions, and said it would seek to reduce private security ministries grades, although the circumstances of the war with Daash. Confirms Jabbar Abdul Khaliq, a member of the Finance Committee, said that “the decline in oil prices will lead to significant impacts will occur on the budget will increase the percentage of disability.”
But Abdul-Jabbar, adds in an interview for the “long”, that “experts in the oil sector expected rise in oil prices in the next few months “, adding that” the House of Representatives continues to discuss the budget during this current week. ”
explains a member of the Finance Committee said, “Next week will be the federal budget is ready to vote,” pointing out that the committee “has not been any transfers in the doors of the budget until the end from discussion and reduce unnecessary expenditures. ”
says Najiba Najib, a member of the parliamentary Economic Committee, said that “the House of Representatives listens on a daily basis to the proposals and additions made by the political blocs in the hope included in the draft budget for the year 2015 Act.”
predicted Najib, in a statement to ” term, “” The House of Representatives ends of the receipt of additions and suggestions on the draft budget at a meeting next Monday (tomorrow) and then cleared the way for the Finance Committees and the economy to review the budget items to be submitted to a vote at the earliest. ”
confirms a member of the Economic Committee that “the proportion of deficit in the draft budget amounted to 43 trillion dinars because of falling world oil prices to $ 44. ”
They pointed out the non-inclusion of certain financial revenue, wondering, for example, the absence of information about the financial returns “of petroleum products for domestic consumption, in the draft budget” and wondered, “Where do you go this Money and how its size and whether can be used to fill some of the shortfall? “.
reveal Kurdish MP for the “trend in government external borrowing through treasury bond issue worth $ 12 billion to pay for the expenses of oil companies operating in Iraq,” indicating that “the budget law gives the Minister Financial resort to such borrowing “has expired.
The former oil minister Ibrahim Bahr al-Ulum said the “long” that the Iraqi government is required to pay about $ 27 billion for foreign companies that worked on the development of the southern fields during the past two years. He revealed spending foreign oil companies about $ 43 billion over the past two years, and it plans to invest $ 87 billion until 2016. The parliamentary Finance Committee revealed the “long” Iraq is the full amount will not reimburse for companies, due to the financial crisis and the collapse of oil prices, and perhaps provide them with guaranteed bonds $ 12 billion only, to postpone the rest.
demanding MP Najiba Najib government to “postpone the payment of benefits and premiums Bzmtha which are estimated at 3.733 trillion dinars include Paris Club debt and entitlements of the Arab Fund and the International Monetary and benefits of the World Bank settlement of six loans with repayment versions of Money the Old Treasury days of the former regime since, which is estimated at 200 billion dinars. ”
explains Najib said the “size of the premiums Paris Club agreement amounting to 932 billion and 800 million dinars, and the Arab Fund dues amounting to 46 billion and 600 million dinars, and that the premiums of the International Monetary Fund amounting to 839 billion and 500 million dinars, while Benefits of six loans amount to 1 trillion and 252 billion dinars. ” They pointed out that “the total interest loans that the Iraqi government paid, during the current year, $ 3 trillion dinars and in the form of premiums.”
It goes a member of the Economic Committee by saying that “the government’s debt and interest put in a special report within the budget we have a clearer knowledge is accurate and clear.” , noting that “previous governments had refused to send it to parliament for unknown reasons.”
A report of the Finance Committee, which was presented to Parliament to “the lack of data private budget in 2015 for the ministries that are the economic principle of the policy of the government is still dominated by central planning clearly without detailed tables to get to the practices of decentralization any role. ” The report adds that “the proposed loans amounted to estimate (22.4) trillion dinars in the revenue side, mostly allocated to cover the deficit in absolute terms without paint a budget mechanism to use and customize to meet the ongoing consumer spending.”
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