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Financial Parliament reveal Dam 2015 budget deficit mechanisms
12/31/2014 0:00
BAGHDAD - Shaima Rashid
Of the Finance Committee is scheduled to submit its report in the House of Representatives on the federal budget for 2015 for the presidency of the parliament project on the seventh of January next session, revealing a new governmental mechanism to fill the 25 trillion dinars deficit.
House of Representatives decision Niazi Davutoglu, said that the parliamentary finance committee will submit its detailed report on the draft federal budget law to the presidency of the Council at the next meeting scheduled to be held in the seventh month of January next to read it in the session after the completion of the first reading of the draft budget law.
He said Ihsanoglu for "Center Brief for the Iraqi Media Network," that all members of the House of Representatives received a copy of the federal budget for the project and will be the member familiar with them fully until the next meeting, indicating that the Presidency of the Council will open the floor for discussion before the House of Representatives regarding the report of the Committee that they can be installed observations by the Finance Committee in the draft budget.
The House of Representatives and read the draft budget law for 2015 earlier extraordinary session held last Thursday, before he referred to the Finance Committee in the Parliament.
For its part, the parliamentary finance committee for the "morning" revealed the existence of a governmental mechanism to bridge the budget deficit of 25 Trliuna and 401 billion dinars, indicating that the treatment will be through borrowing and issuing bonds and project national savings.
He said the Finance Committee member Hossam punitive: "The total deficit will be paid by the amount of national savings to state employees and the 2 trillion, as well as 3 trillion of assets retained from 2014, in addition to the Special Drawing Rights (sdi) up to 2 trillion and 98 billion."
"It will also be well Eurobond issuance of up to 6 trillion and the issuance of public debt bonds by the legal reserve banks up to 6 trillion, loans and remittances treasury of the Trade Bank of Iraq by 3 trillion, and also issuing money orders treasury government banks up to 3 trillion dinars."
As for the existing taxes that will fill part of the budget deficit, between punitive, that "the Cabinet's proposal to tax is to be 20 percent Kartat mobile and the Internet, in addition to 15 percent on the purchase of cars of all kinds and tickets," pointing out that this proposal.
"Committee did not discuss it yet. "
He pointed out that "in the event of rising oil prices or increase production, this will provide additional funds for the government can work to plug or that they can be recycled or used as a counterbalance their complementary."
The opinion of the Committee member Jabbar Abdul Khaliq al-Abadi, the mechanism which will be followed by the government enough to fill the budget deficit next year, saying it was "the first time the government has put such a mechanism."
In addition, MP for the rule of law mighty Ahmed pointed out that the House will reconsider in some paragraphs of the budget in order to reduce the existing deficit.
The total budget of 125 trillion dinars size and a deficit of 25 trillion dinars and figures increased by about two trillion dinars after the government to re-formulate some budget revenues estimated at more than 99 trillion dinars, and the expenditure of more than 125 trillion dinars items.
In the same context, the MP for the mass citizen Ibrahim Bahr al-Ulum proposal of the parliamentary Finance Committee handles the budget cover the 2015 deficit without resorting to the citizens in their coverage mechanism.
Uloum said, that the proposal was based on treasury bonds in exchange for giving the value of the financial deduction for the employee ensures recovery of amounts over a period of a year or two, according to benefits ranging from 3-5 percent, indicating that this procedure has economic and psychological dimensions and investment staff.
The MP for the Finance Committee Faleh applicable for modifying the text of the law to prevent the arrival of the deficit to the ordinary citizen, as well as the imposition of non-legislative text transfers the money to buy cars, furniture, six months after the adoption of the budget.
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12/31/2014 0:00
BAGHDAD - Shaima Rashid
Of the Finance Committee is scheduled to submit its report in the House of Representatives on the federal budget for 2015 for the presidency of the parliament project on the seventh of January next session, revealing a new governmental mechanism to fill the 25 trillion dinars deficit.
House of Representatives decision Niazi Davutoglu, said that the parliamentary finance committee will submit its detailed report on the draft federal budget law to the presidency of the Council at the next meeting scheduled to be held in the seventh month of January next to read it in the session after the completion of the first reading of the draft budget law.
He said Ihsanoglu for "Center Brief for the Iraqi Media Network," that all members of the House of Representatives received a copy of the federal budget for the project and will be the member familiar with them fully until the next meeting, indicating that the Presidency of the Council will open the floor for discussion before the House of Representatives regarding the report of the Committee that they can be installed observations by the Finance Committee in the draft budget.
The House of Representatives and read the draft budget law for 2015 earlier extraordinary session held last Thursday, before he referred to the Finance Committee in the Parliament.
For its part, the parliamentary finance committee for the "morning" revealed the existence of a governmental mechanism to bridge the budget deficit of 25 Trliuna and 401 billion dinars, indicating that the treatment will be through borrowing and issuing bonds and project national savings.
He said the Finance Committee member Hossam punitive: "The total deficit will be paid by the amount of national savings to state employees and the 2 trillion, as well as 3 trillion of assets retained from 2014, in addition to the Special Drawing Rights (sdi) up to 2 trillion and 98 billion."
"It will also be well Eurobond issuance of up to 6 trillion and the issuance of public debt bonds by the legal reserve banks up to 6 trillion, loans and remittances treasury of the Trade Bank of Iraq by 3 trillion, and also issuing money orders treasury government banks up to 3 trillion dinars."
As for the existing taxes that will fill part of the budget deficit, between punitive, that "the Cabinet's proposal to tax is to be 20 percent Kartat mobile and the Internet, in addition to 15 percent on the purchase of cars of all kinds and tickets," pointing out that this proposal.
"Committee did not discuss it yet. "
He pointed out that "in the event of rising oil prices or increase production, this will provide additional funds for the government can work to plug or that they can be recycled or used as a counterbalance their complementary."
The opinion of the Committee member Jabbar Abdul Khaliq al-Abadi, the mechanism which will be followed by the government enough to fill the budget deficit next year, saying it was "the first time the government has put such a mechanism."
In addition, MP for the rule of law mighty Ahmed pointed out that the House will reconsider in some paragraphs of the budget in order to reduce the existing deficit.
The total budget of 125 trillion dinars size and a deficit of 25 trillion dinars and figures increased by about two trillion dinars after the government to re-formulate some budget revenues estimated at more than 99 trillion dinars, and the expenditure of more than 125 trillion dinars items.
In the same context, the MP for the mass citizen Ibrahim Bahr al-Ulum proposal of the parliamentary Finance Committee handles the budget cover the 2015 deficit without resorting to the citizens in their coverage mechanism.
Uloum said, that the proposal was based on treasury bonds in exchange for giving the value of the financial deduction for the employee ensures recovery of amounts over a period of a year or two, according to benefits ranging from 3-5 percent, indicating that this procedure has economic and psychological dimensions and investment staff.
The MP for the Finance Committee Faleh applicable for modifying the text of the law to prevent the arrival of the deficit to the ordinary citizen, as well as the imposition of non-legislative text transfers the money to buy cars, furniture, six months after the adoption of the budget.
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