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Expects the financial collapse of most banks Iraq
2015/08/05 15:06
Tomorrow Press / Baghdad: Ministry of Finance warned not to reduce the ministries and government agencies spending during the second half of this year, noting the possibility of a collapse of most banks in Iraq. He revealed a senior source in the Ministry of Finance for "tomorrow Press," that "the state budget may not be able to finance any project in the country during 2016, in the event of ministries expenses continued in this way, "noting that" the amount of the investment budget for the current year funds amounting to about 47 trillion dinars, while will drop next year to about 45 trillion dinars, a large part of it will go to the credit companies. " He said that "oil companies alone be asked to pay dues amounting to 35 trillion dinars, which can not be deducted from the operating budget, leading to reduced investment budget, project-specific side and expenses." The source added that "Iraq is going through financial distress is unprecedented, could lead to the collapse of most banks in the country, which has lost a large part of its capital as a result of the projects stop, large loans and small, "explaining that" the contractors and calling for Iraq to pay owed debt to government ministries and agencies for two years. " He added that "some banks now refrain from granting its customers state of deposits, as a result of reduced deposits, and the lack of capital in the country. " The source said that "push Iraq debt for the oil companies and contractors means free investment budget from state funds can be implemented any projects in the coming year." The sources of the Ministry of Finance revealed yesterday for tomorrow Press for "contracted government agencies with companies and contractors outside controls with companies and contractors to implement projects that have not ratified by the Ministry of Finance", adding that "some of the characters within the ministries persuaded companies and contractors to the implementation rate of the projects, in order to get Komhnat only, on Although not get approvals for projects fundamentalism. "
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2015/08/05 15:06
Tomorrow Press / Baghdad: Ministry of Finance warned not to reduce the ministries and government agencies spending during the second half of this year, noting the possibility of a collapse of most banks in Iraq. He revealed a senior source in the Ministry of Finance for "tomorrow Press," that "the state budget may not be able to finance any project in the country during 2016, in the event of ministries expenses continued in this way, "noting that" the amount of the investment budget for the current year funds amounting to about 47 trillion dinars, while will drop next year to about 45 trillion dinars, a large part of it will go to the credit companies. " He said that "oil companies alone be asked to pay dues amounting to 35 trillion dinars, which can not be deducted from the operating budget, leading to reduced investment budget, project-specific side and expenses." The source added that "Iraq is going through financial distress is unprecedented, could lead to the collapse of most banks in the country, which has lost a large part of its capital as a result of the projects stop, large loans and small, "explaining that" the contractors and calling for Iraq to pay owed debt to government ministries and agencies for two years. " He added that "some banks now refrain from granting its customers state of deposits, as a result of reduced deposits, and the lack of capital in the country. " The source said that "push Iraq debt for the oil companies and contractors means free investment budget from state funds can be implemented any projects in the coming year." The sources of the Ministry of Finance revealed yesterday for tomorrow Press for "contracted government agencies with companies and contractors outside controls with companies and contractors to implement projects that have not ratified by the Ministry of Finance", adding that "some of the characters within the ministries persuaded companies and contractors to the implementation rate of the projects, in order to get Komhnat only, on Although not get approvals for projects fundamentalism. "
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