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Tough choices to deal with the budget deficit ..alaguetrad from the central bank threatens the value of the national currency and the imposition of the tax burden on citizens
12/17/2014
Iraqi observer - Salam al-Zubaidi
Financial crisis that threatens the country's economy due to the large budget deficit prompted the Ministry of Finance and the words of its minister to waving the issue of taxation of companies and real estate, and on imported from overseas goods, although it goes back negative its impact on the citizen, because he will rise in prices in case application of this procedure effectively on the ground, given that the oil prices are still down continuously, which increases the deficit in the public budget gap. Is it that the continued decline in oil prices, which is paralleled by a sharp deficit in the state budget will push the government to borrow from the central bank? Or is this deficit will push the government to apply the principle of taxes on working citizen? Are there other alternatives have recourse to her government in the event of the difficulty of applying these themes, and on that showed a member of the parliamentary Economic Committee MP Najiba Najib that until now it was not up to the imposition of direct taxes on the citizens, and that because Iraq is a rich country despite the crisis experienced by the , and the government has the ability to use the ways and means of several to address this crisis without resorting to tax, and confirmed Najib in connection with the "Iraqi observer" that the oil is still in constant waiver so far, but the International Monetary Fund reports and forecasts specialists suggest that this decline will be only at the beginning of next year, said Najib, that the country has the sectors of agricultural and tourist good and if exercising them, they Saaadan tributaries important can the country on their way to provide good revenue for the budget, without resorting to taxation, or the deduction of employees' salaries, noting that an administrative error is prompting to this crisis, and indicated Najib that the deficit treatment are various ways, including that the Ministry of Finance may borrow from the Rafidain and Rasheed reserve, or of the Iraqi Commercial Bank "TBI", or borrow from the World Bank two billion dollars, but the direct borrowing from the central bank is permitted under the law of the central bank.
She Najib, that the government much of the resources that the disposal of non-place Tqhevc, in addition to the postponement of the payment of debt of Kuwait, and increased Najib that the positives from this economic crisis, it would pay the state about to go to investment and to think seriously and the private sector and realistic, for his part stressed member of the parliamentary Economic Committee Ibtisam al-Hilali, that the government will go to the activation of taxes on goods, goods and money that go to Iraq for the budget deficit treatment, confirming that these austerity measures pursued by the state after the deterioration of oil prices and showed Hilali: "The Ministry of Finance has decided to go to raise taxes on companies mobile phone, real estate and goods entering the Iraqi border in order to address the problems that hinder the adoption of the budget for the year 2015, "The Finance Minister Hoshyar Zebari, revealed earlier that the government would resort for the first time to impose taxes on mobile phone sales to fill the budget deficit, mentioned that the budget public of "2015" in crisis big deficit offset a steady decline in oil prices in the world could have a negative impact on the overall economic situation of the country.
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12/17/2014
Iraqi observer - Salam al-Zubaidi
Financial crisis that threatens the country's economy due to the large budget deficit prompted the Ministry of Finance and the words of its minister to waving the issue of taxation of companies and real estate, and on imported from overseas goods, although it goes back negative its impact on the citizen, because he will rise in prices in case application of this procedure effectively on the ground, given that the oil prices are still down continuously, which increases the deficit in the public budget gap. Is it that the continued decline in oil prices, which is paralleled by a sharp deficit in the state budget will push the government to borrow from the central bank? Or is this deficit will push the government to apply the principle of taxes on working citizen? Are there other alternatives have recourse to her government in the event of the difficulty of applying these themes, and on that showed a member of the parliamentary Economic Committee MP Najiba Najib that until now it was not up to the imposition of direct taxes on the citizens, and that because Iraq is a rich country despite the crisis experienced by the , and the government has the ability to use the ways and means of several to address this crisis without resorting to tax, and confirmed Najib in connection with the "Iraqi observer" that the oil is still in constant waiver so far, but the International Monetary Fund reports and forecasts specialists suggest that this decline will be only at the beginning of next year, said Najib, that the country has the sectors of agricultural and tourist good and if exercising them, they Saaadan tributaries important can the country on their way to provide good revenue for the budget, without resorting to taxation, or the deduction of employees' salaries, noting that an administrative error is prompting to this crisis, and indicated Najib that the deficit treatment are various ways, including that the Ministry of Finance may borrow from the Rafidain and Rasheed reserve, or of the Iraqi Commercial Bank "TBI", or borrow from the World Bank two billion dollars, but the direct borrowing from the central bank is permitted under the law of the central bank.
She Najib, that the government much of the resources that the disposal of non-place Tqhevc, in addition to the postponement of the payment of debt of Kuwait, and increased Najib that the positives from this economic crisis, it would pay the state about to go to investment and to think seriously and the private sector and realistic, for his part stressed member of the parliamentary Economic Committee Ibtisam al-Hilali, that the government will go to the activation of taxes on goods, goods and money that go to Iraq for the budget deficit treatment, confirming that these austerity measures pursued by the state after the deterioration of oil prices and showed Hilali: "The Ministry of Finance has decided to go to raise taxes on companies mobile phone, real estate and goods entering the Iraqi border in order to address the problems that hinder the adoption of the budget for the year 2015, "The Finance Minister Hoshyar Zebari, revealed earlier that the government would resort for the first time to impose taxes on mobile phone sales to fill the budget deficit, mentioned that the budget public of "2015" in crisis big deficit offset a steady decline in oil prices in the world could have a negative impact on the overall economic situation of the country.
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