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Fahmy warns of the consequences of foreign loans
4/14/2015 0:00
BAGHDAD
warned economist of implications about the foreign loans and the growing indebtedness of the Iraqi economy in addressing the budget deficit due to the significant decline in oil prices, which was born among challenges that require solutions and ideas and proposals for a quick and effective to stop the effects future and resulting burden on the country's economy
and suggested d. Raed Fahmi in his "morning" among other measures through which some of the economic challenges posed by the significant decline in the price of a barrel of oil, which reached more than 70 percent per barrel, saying that the imposition of direct taxes upward on people with high incomes is applied treatment and slate applied now is the income tax Statistics indirect.
He said Fahmi that sums this type of tax is very low and is rewarding as well as they are applied to low-income people, calling for the need to reconsider system of taxes and make it compatible with developments variables, which will be an important source of income if did the right form, he said.
He added that the collection law is still incomplete so far suffer mismanagement pointing to its potential in addressing the deficit and provide revenue to supplement the state budget better as well as the role Alkperfi support the local economy.
He noted Fahmi on the principle of plug through domestic borrowing pointing to take
some of the measures is to endeavor to issue bonds to some government funds from a bank Rasheed Bank and Iraq as well as initiatives to issue a bond and borrow from the Bank of Commerce, referring to the existence of bonds financed by the central bank indirectly via the secondary market in the sense the issuance and sale of bonds in the primary market of any bank Central indicating that it could 70 coverage to 80 percent of the deficit.
He pointed to the possibility of utilization of foreign loans through the International Monetary Fund and the completion of the loan given to Iraq amount and the remainder of it about two billion dollars accompanied by loans from other international banks, warning of the high interest rates that will lead rates to future problematic due to high debt ratio to GDP ratio
also called for the organization of the mechanism of debt management and service any debt repayment original plus benefits and what it entails is part of the budget revenues in the long term consumption of pointing out the necessity of thinking in the style cover the deficit and fill the need in the long Short stressing the objective necessity at that and not put the country in a problematic and reduce as much as possible from borrowing from the global market, with a focus on the importance of the benefits of low
and hinted Fahmi to the possibility of retrenchment to address the deficit, pointing to take some measures in this regard, adding it was below the required level.
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4/14/2015 0:00
BAGHDAD
warned economist of implications about the foreign loans and the growing indebtedness of the Iraqi economy in addressing the budget deficit due to the significant decline in oil prices, which was born among challenges that require solutions and ideas and proposals for a quick and effective to stop the effects future and resulting burden on the country's economy
and suggested d. Raed Fahmi in his "morning" among other measures through which some of the economic challenges posed by the significant decline in the price of a barrel of oil, which reached more than 70 percent per barrel, saying that the imposition of direct taxes upward on people with high incomes is applied treatment and slate applied now is the income tax Statistics indirect.
He said Fahmi that sums this type of tax is very low and is rewarding as well as they are applied to low-income people, calling for the need to reconsider system of taxes and make it compatible with developments variables, which will be an important source of income if did the right form, he said.
He added that the collection law is still incomplete so far suffer mismanagement pointing to its potential in addressing the deficit and provide revenue to supplement the state budget better as well as the role Alkperfi support the local economy.
He noted Fahmi on the principle of plug through domestic borrowing pointing to take
some of the measures is to endeavor to issue bonds to some government funds from a bank Rasheed Bank and Iraq as well as initiatives to issue a bond and borrow from the Bank of Commerce, referring to the existence of bonds financed by the central bank indirectly via the secondary market in the sense the issuance and sale of bonds in the primary market of any bank Central indicating that it could 70 coverage to 80 percent of the deficit.
He pointed to the possibility of utilization of foreign loans through the International Monetary Fund and the completion of the loan given to Iraq amount and the remainder of it about two billion dollars accompanied by loans from other international banks, warning of the high interest rates that will lead rates to future problematic due to high debt ratio to GDP ratio
also called for the organization of the mechanism of debt management and service any debt repayment original plus benefits and what it entails is part of the budget revenues in the long term consumption of pointing out the necessity of thinking in the style cover the deficit and fill the need in the long Short stressing the objective necessity at that and not put the country in a problematic and reduce as much as possible from borrowing from the global market, with a focus on the importance of the benefits of low
and hinted Fahmi to the possibility of retrenchment to address the deficit, pointing to take some measures in this regard, adding it was below the required level.
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