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Observers: the restructuring of the economy «consuming» budgets and «unproductive»
3/23/15
Baghdad Mohammed Hadi
called observers economic affairs on the government to ensure compliance with the International Monetary Fund in order to get out of the financial crisis, the country is experiencing at the present time, considering that the restructuring of the Iraqi economy, "unproductive and consume budgets," The Fund predicted high proportion of budget deficit in 2015 to more than 12 percent announced by the government, to "significantly higher levels", due to lower oil prices, a weak possibility of Iraq's commitment to export 3.3 million barrels per day, the Economic adviser to Prime Minister that the fiscal deficit in the current year budget, a great analogy balance sheets of the world .
For its part, stressed member of the parliamentary finance committee for the coalition of Kurdish blocs Najiba Najib, Sunday, on the necessity of activating the private sector and rely on economic sectors and activities in order to fill the budget 2015 deficit.
She explained Najib should be legislation retired workers to encourage and activate the private sector and the exploitation of resources and capabilities Law available to the Iraqis and to rely on economic sectors and activities other than oil such as industry, agriculture, tourism, indicating that investment expenditure should not rely on the budget, but invested by the private sector.
She stressed the need to "fight against financial and administrative corruption in government departments," claim that "there is a serious will in decision-making in the privatization of enterprises and the removal of barriers to investment projects and the distribution of capital to the outside. "
She continued, "One of the ways to address the budget is the inability to export oil in larger quantities and increase domestic production in the southern oil fields and the center and the Kurdistan Regional Government."
The International Monetary Fund recommended the week the past, "the need to take the Iraqi government measures to increase state revenues from taxes and tax collection and improve the management of customs and tax, with a concentration on the reforms in the field of expenses in cash flow management and better control of the implementation reports, financial situation and better management of debt and close coordination between the Ministry of Finance and the Central Bank and government banks."
Helal Taan, a specialist financial affairs, said "the world", yesterday, that "the government's commitment to the recommendations of the World Bank sponsor out of the financial crisis in Iraq with the present, as a result of the decline in world oil prices," but the implementation of these recommendations, according to the opinion of Attan "must have in the form of stages and in particular the imposition of taxes on goods and commodities; it requires the government to wait on that. "
Taan "The activation of the recommendations of the International Monetary Fund need to launch a major campaign to eliminate the financial and administrative corruption in government departments," adding that "it will make it easier implement the recommendations properly process. "
For his part, said the Director of Media Centre for Economic lion Muhammad Ali's "The World", "The recommendations of the IMF aims to promote economic reforms, to look forward to the government," adding that "the economic structure with the present consume budgets and is productive. "
The manager of the Economic Media Center that "the financial crisis in Iraq has made the government feel the importance of adhering to the recommendations of the International Monetary Fund."
With regard to the financial and administrative corruption, said the government was delayed in the fight against this scourge, which ravage the wealth of Iraq, indicating that it caused a deficit significantly in the current year budget.
For his part, the appearance of Mohammed Saleh, an economic advisor to the prime minister, Haider al-Abadi, said that "the IMF forecast on the economic situation in Iraq, came after several meetings between him and Iraqi officials," adding that "the meetings came according Article IV of the IMF agreement, which states he evaluates the economic situation of the countries belonging to him. "
Saleh added that "the Fund for the Iraqi economy calendar came within the current financial crunch faced by the country as a result of the decline in world oil prices," recognizing that "the fiscal deficit in the budget In the current 2015, a great analogy budgets of countries in the world, estimated at three percent. "
He explained that "the point at which the effects of the International Monetary Fund in its statement speak for payments outside the budget Kaadz estimates, amounting to 12 percent," noting that "the Iraqi government is working to extinguish those payments or postponement paid or funded additional religion. "
He believed in favor of that, "the IMF said those payments deficit financially, plus have not been accounted for in the current 2015 budget," returned that "the position of the Fund expresses his point of view, which is banned by the government, but they do not express their view." .
Counsel stated that "the ministries of oil and finance hold consultations with international oil companies to find a way not to hurt Iraq much in this regard," he "is ready IMF lending to Iraq to maintain international financial stability as part of his job to one of its founders."
Saleh said that the "statement Whatever Fund for Iraq, especially as it included notices and solutions and the possibility of getting a loan on the way, "he continued," The government will inform the Fund's statement in detail and deal with him. "
The International Monetary Fund predicted rise in the deficit ratio in Iraq's budget for 2015, much higher than the 12 percent announced by the The government, due to lower global oil prices, a weak possibility of Iraq's commitment to export 3.3 million barrels per day, and assume the budget, proposing the implementation of the reform measures strict include austere in investment projects, and a commitment to reducing expenses, and reconsider the limits for sales of the Central Bank of currency, referring to the overall growth contraction, and the prospect of rising inflation slightly the end of this year.
The House of Representatives approved on 29 January 2015, the financial budget law in the current 2015 rate of 119 trillion Iraqi dinars, and a deficit of 25 trillion dinars.
It is noteworthy that world oil prices have lost nearly 60 percent of its value, during the last term to drop to below $ 50, before recently re recovery.
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3/23/15
Baghdad Mohammed Hadi
called observers economic affairs on the government to ensure compliance with the International Monetary Fund in order to get out of the financial crisis, the country is experiencing at the present time, considering that the restructuring of the Iraqi economy, "unproductive and consume budgets," The Fund predicted high proportion of budget deficit in 2015 to more than 12 percent announced by the government, to "significantly higher levels", due to lower oil prices, a weak possibility of Iraq's commitment to export 3.3 million barrels per day, the Economic adviser to Prime Minister that the fiscal deficit in the current year budget, a great analogy balance sheets of the world .
For its part, stressed member of the parliamentary finance committee for the coalition of Kurdish blocs Najiba Najib, Sunday, on the necessity of activating the private sector and rely on economic sectors and activities in order to fill the budget 2015 deficit.
She explained Najib should be legislation retired workers to encourage and activate the private sector and the exploitation of resources and capabilities Law available to the Iraqis and to rely on economic sectors and activities other than oil such as industry, agriculture, tourism, indicating that investment expenditure should not rely on the budget, but invested by the private sector.
She stressed the need to "fight against financial and administrative corruption in government departments," claim that "there is a serious will in decision-making in the privatization of enterprises and the removal of barriers to investment projects and the distribution of capital to the outside. "
She continued, "One of the ways to address the budget is the inability to export oil in larger quantities and increase domestic production in the southern oil fields and the center and the Kurdistan Regional Government."
The International Monetary Fund recommended the week the past, "the need to take the Iraqi government measures to increase state revenues from taxes and tax collection and improve the management of customs and tax, with a concentration on the reforms in the field of expenses in cash flow management and better control of the implementation reports, financial situation and better management of debt and close coordination between the Ministry of Finance and the Central Bank and government banks."
Helal Taan, a specialist financial affairs, said "the world", yesterday, that "the government's commitment to the recommendations of the World Bank sponsor out of the financial crisis in Iraq with the present, as a result of the decline in world oil prices," but the implementation of these recommendations, according to the opinion of Attan "must have in the form of stages and in particular the imposition of taxes on goods and commodities; it requires the government to wait on that. "
Taan "The activation of the recommendations of the International Monetary Fund need to launch a major campaign to eliminate the financial and administrative corruption in government departments," adding that "it will make it easier implement the recommendations properly process. "
For his part, said the Director of Media Centre for Economic lion Muhammad Ali's "The World", "The recommendations of the IMF aims to promote economic reforms, to look forward to the government," adding that "the economic structure with the present consume budgets and is productive. "
The manager of the Economic Media Center that "the financial crisis in Iraq has made the government feel the importance of adhering to the recommendations of the International Monetary Fund."
With regard to the financial and administrative corruption, said the government was delayed in the fight against this scourge, which ravage the wealth of Iraq, indicating that it caused a deficit significantly in the current year budget.
For his part, the appearance of Mohammed Saleh, an economic advisor to the prime minister, Haider al-Abadi, said that "the IMF forecast on the economic situation in Iraq, came after several meetings between him and Iraqi officials," adding that "the meetings came according Article IV of the IMF agreement, which states he evaluates the economic situation of the countries belonging to him. "
Saleh added that "the Fund for the Iraqi economy calendar came within the current financial crunch faced by the country as a result of the decline in world oil prices," recognizing that "the fiscal deficit in the budget In the current 2015, a great analogy budgets of countries in the world, estimated at three percent. "
He explained that "the point at which the effects of the International Monetary Fund in its statement speak for payments outside the budget Kaadz estimates, amounting to 12 percent," noting that "the Iraqi government is working to extinguish those payments or postponement paid or funded additional religion. "
He believed in favor of that, "the IMF said those payments deficit financially, plus have not been accounted for in the current 2015 budget," returned that "the position of the Fund expresses his point of view, which is banned by the government, but they do not express their view." .
Counsel stated that "the ministries of oil and finance hold consultations with international oil companies to find a way not to hurt Iraq much in this regard," he "is ready IMF lending to Iraq to maintain international financial stability as part of his job to one of its founders."
Saleh said that the "statement Whatever Fund for Iraq, especially as it included notices and solutions and the possibility of getting a loan on the way, "he continued," The government will inform the Fund's statement in detail and deal with him. "
The International Monetary Fund predicted rise in the deficit ratio in Iraq's budget for 2015, much higher than the 12 percent announced by the The government, due to lower global oil prices, a weak possibility of Iraq's commitment to export 3.3 million barrels per day, and assume the budget, proposing the implementation of the reform measures strict include austere in investment projects, and a commitment to reducing expenses, and reconsider the limits for sales of the Central Bank of currency, referring to the overall growth contraction, and the prospect of rising inflation slightly the end of this year.
The House of Representatives approved on 29 January 2015, the financial budget law in the current 2015 rate of 119 trillion Iraqi dinars, and a deficit of 25 trillion dinars.
It is noteworthy that world oil prices have lost nearly 60 percent of its value, during the last term to drop to below $ 50, before recently re recovery.
[You must be registered and logged in to see this link.]
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