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Parliamentary Finance: Iraq borrowed more than three billion dollars and projects stalled St_khas_khas
4/30/2015
Long-Presse / Baghdad
Parliamentary Finance Committee confirmed on Thursday that they are passed to the government borrowing to fill the budget deficit and meet the necessary requirements under the state of war with "terrorism", and as pointed out that Iraq will receive a value of three billion and 400 million dollars from the International Monetary Fund and World Bank loans, It revealed a tendency to privatize Almtovqh government projects are viewing investment.
The member of the Committee of Finance Najiba Najib said in an interview to the (long-Presse), "The Parliament is the one who authorized the government to borrow from the International Monetary Fund and World Bank, to bridge the budget deficit and meet the essential needs because the country is in a state of war against terrorism," indicating that "loans to be provided by World Bank to Iraq, will be in the form of investment projects, cmd Railway or paving local roads or international. "
She said Najib, that "the loans constitute a negative case, but the lack of financial resources and to increase commitments forced Iraq to her, whether from inside or outside," noting that "the loan from the International Monetary Fund and the amount of nearly two billion dollars, and the World Bank billion and $ 400 million." .
And she revealed a member of the Parliamentary Finance Committee, all "approach to the stalled privatization of government projects by offering to invest in order to ensure its implementation."
The estimated funding sources in Article III of the budget bill for 2015 of $ 6,168,040,000 dinars, this amount is used to cover the budget deficit and pay premiums internal and external loans and turn off the internal debt, and extinguish the euro bonds, and extinguish religion's central bank bonds.
Iraq complain of weak financial revenues due to declining oil prices and increased expenses, which the military side came on her head, which made the government resort to austerity as one of the solutions adopted to cope with the economic situation of the country which.
International Monetary Fund forecast, in 21/03/2015, high budget deficit in 2015 to more than the 12 percent rate announced by the government, to "significantly higher levels", because of lower oil prices and the weakness of the possibility of Iraq's commitment to export 3.3 million barrels per day, also assume the budget, it proposed the implementation of reform measures include strict austerity in investment projects, and a commitment to reducing expenses, and the revision of the maximum limits of central bank sales of the currency, referring to the overall growth contraction, and the prospect of rising inflation slightly the end of this year.
The current year's budget law, committed the Central Bank of Iraq, in paragraph 50, identifying sales of foreign currency (dollar) in the daily auction ceiling does not exceed 75 million dinars, with the exercise of justice in the sale, and claim participant in the auction the bank to provide the introduction of goods and data documents Tax settling accounts and savings Alkmarki within 30 days from the date of purchase of the amount, and so it applied the sanctions set forth in the Central Bank Act or regulations issued it, and use other banking instruments to maintain the strength of the dinar against the dollar.
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4/30/2015
Long-Presse / Baghdad
Parliamentary Finance Committee confirmed on Thursday that they are passed to the government borrowing to fill the budget deficit and meet the necessary requirements under the state of war with "terrorism", and as pointed out that Iraq will receive a value of three billion and 400 million dollars from the International Monetary Fund and World Bank loans, It revealed a tendency to privatize Almtovqh government projects are viewing investment.
The member of the Committee of Finance Najiba Najib said in an interview to the (long-Presse), "The Parliament is the one who authorized the government to borrow from the International Monetary Fund and World Bank, to bridge the budget deficit and meet the essential needs because the country is in a state of war against terrorism," indicating that "loans to be provided by World Bank to Iraq, will be in the form of investment projects, cmd Railway or paving local roads or international. "
She said Najib, that "the loans constitute a negative case, but the lack of financial resources and to increase commitments forced Iraq to her, whether from inside or outside," noting that "the loan from the International Monetary Fund and the amount of nearly two billion dollars, and the World Bank billion and $ 400 million." .
And she revealed a member of the Parliamentary Finance Committee, all "approach to the stalled privatization of government projects by offering to invest in order to ensure its implementation."
The estimated funding sources in Article III of the budget bill for 2015 of $ 6,168,040,000 dinars, this amount is used to cover the budget deficit and pay premiums internal and external loans and turn off the internal debt, and extinguish the euro bonds, and extinguish religion's central bank bonds.
Iraq complain of weak financial revenues due to declining oil prices and increased expenses, which the military side came on her head, which made the government resort to austerity as one of the solutions adopted to cope with the economic situation of the country which.
International Monetary Fund forecast, in 21/03/2015, high budget deficit in 2015 to more than the 12 percent rate announced by the government, to "significantly higher levels", because of lower oil prices and the weakness of the possibility of Iraq's commitment to export 3.3 million barrels per day, also assume the budget, it proposed the implementation of reform measures include strict austerity in investment projects, and a commitment to reducing expenses, and the revision of the maximum limits of central bank sales of the currency, referring to the overall growth contraction, and the prospect of rising inflation slightly the end of this year.
The current year's budget law, committed the Central Bank of Iraq, in paragraph 50, identifying sales of foreign currency (dollar) in the daily auction ceiling does not exceed 75 million dinars, with the exercise of justice in the sale, and claim participant in the auction the bank to provide the introduction of goods and data documents Tax settling accounts and savings Alkmarki within 30 days from the date of purchase of the amount, and so it applied the sanctions set forth in the Central Bank Act or regulations issued it, and use other banking instruments to maintain the strength of the dinar against the dollar.
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