Home
6102 budget need to be a comprehensive review
10/26/2015 0:00
BAGHDAD - Hussein al-Tamimi Tgb
warned economist of the major challenges facing the next year's budget in 2016 as unrealistic and need to be reviewed.
The economist said Hassan al-Asadi: that there are doubts about the possibility of achieving balance in all stages whether the oil revenues or the price or borrow and even internal and external borrowing revenues .
He added that the adoption of the budget figures close to reality real address existing problems with the private sector makes it able to reduce the challenges to be faced after acknowledging, where it requires a review of figures contained in the federal budget and the oil prices supported the law. Asadi address the issue of the budget and urged the need to put the final accounts for 2015, and you can not because of the many challenges, noting that he helps to create a real final accounts in the next year, pointing out that Iraq lacks these accounts since 2003 because of financial and administrative corruption and this needs to be reviewed.
and between in an interview for the "morning" he stated in the budget item V that the grants and the amounts that overflowed in the year 2014 -2015 at the ministries and provinces are pushed in advance to her, and asked on what basis has been calculated, so it required from the concerned authorities to seek to work on the issuance of the report of the final accounts for the next year.
He said that the budget is Mataatouka State cashed in the full year, the doors of operational investment exchange calculate the state in accordance with the requirements and what you get from imports and the difference between the revenues the state and expenditure so-called deficit, while the final accounts are the actual budget where issued State First budget speculative and the end of the year the doors of the exchange itself strictly to decline and in doing so diagnose where the defect or disability.
Asadi said that the budget includes 83 trillion dinars in operational Mvsalha This is a big number, at a time when we walk toward reform and rationalize consumption and reduce capital expenditures and called firmly three reforms But with these packages allocated 83 Trliuna This is a big number and wondered about the rationalization and reduction of consumption. And stood at paragraph allocation of 1.7 trillion counterbalance the regions that are given to the provincial development, in time find that the State is required to contractors benefits payable more than this figure was 2.7 trillion up dinars, wondering how it will address this issue and this benefits payable in particular it would cause recession and social problems we warned them cross-platform (morning) earlier, and this requires the necessary treatment, and expected no treatment in the next year.
With regard to reduction of salaries I think it requires a government announcement that this issue will continue for five years thereafter reconsider the subject again, that during this period the government is working to stimulate the economy and the private sector in order to be excluded bug that gets, which is shrinking the market because of the decline.
Asadi stop when the budget revenues, oil revenues, calculated on the price of oil at $ 45 and the amount of 3.6 million barrels per day, of which 250 thousand Kurdistan and 300 000 from the Kirkuk fields, pointing out that these figures prospect of date quickly some doubts as she prepared according to the oil agreement with Kurdistan, which has not been applied as required, believing that the adoption price of $ 45 a barrel for the type of risk-taking required to reduce the price specified in the budget law to 40 dollars, noting that the rise in oil prices can prepare a supplemental budget and proceed forecasts least to be more realistic so that citizens and the government and who are interested in building their expectations more accurately.
He pointed to the existence of ambiguity in some of the budget figures as stated term and other non-oil where there is a 14 Trliuna revenue received as income other, and when reviewing the revenue on the basis of 95 percent of the oil can not be achieved this number of other income expected from the wild Almnavd or marine or taxes on different, noting that though it is difficult to achieve this amount.
He pointed to the difficulty of covering the budget, which is estimated at a deficit 30 trillion dinars from internal and external borrowing, pointing out that external borrowing is difficult to achieve because of the international organizations Khvzt credit rating of Iraq to the b-3 after the emergence of (Daash) comes after the tenth place, and this means that the institutions when you want to lend to Iraq requests the big benefits beyond 12 percent and with so borrowing difficult dam deficit, especially as the loans will be spent in the aspects of non-investment do not come revenues to the government.
The internal debt securities Vassab be achieved in the absence of the payment of the private sector entitlements and this because of weak bridges of trust between the government and the private sector, especially as the budget and put 7 trillion dinars to cover the deficit of internal support bonds and this needs to be reconsidered.
Asadi said that the total funding set by the State to meet the fiscal deficit in the budget can not be investigated is estimated to 21 trillion dollars, demanding to reconsider establishing realistic budget more, because it is difficult to implement the budget in this way but equally possible to implement the budget, noting that the international oil companies great benefits, especially as the high or low oil prices does not affect the entitlements of companies required fixed numbers.
[You must be registered and logged in to see this link.]
