The face of the fiscal deficit

8/31/2015 0:00

Mohammed Sharif Abu Mayssam
We are fighting a war I want her to be a drain with the forces of terrorism, war, exacerbated the fiscal deficit in the public treasury revenues with lower oil revenues rate because of the continued decline in oil prices to much less than the price speculative set by the general budget by about fourteen dollars per barrel rates.

This means the urgent need for financial management of a rational and employ positive for financial assets and financial institutions, and particularly government banking institutions ..

Perhaps the high oil export rates in July to around three million and 200 thousand barrels per day represents a compensatory element for lower prices, which reached $ 50, 295 rate cents in July and to around $ 42 this August, but this increase in export rates did not quite live up after the No. speculative adopted by the general budget of $ 3.3 million barrel price My guess was $ 56 a barrel ..

And therefore we about the financial problem should be recognized by the beginning, in order to finding process exits her, as the fiscal deficit will exceed contained in the general budget of 25.4 trillion dinars deficit estimated at large and if the situation continues as it is, which means the need for the amount of the sources of funding to fulfill the terms and obligations of the general budget ..

It may be useful at this time specifically to inflict the General Budget Law supplemental budget includes the issuance of treasury bonds sold to the public with a view to the emergency deficit financing and stimulating government banking institutions that accumulate in their vaults enormous financial deposits to finance investment projects in safe areas proportions benefits cover administrative mandated by law, as well as the importance of activating the role of private banks demanding Always government deposits, and to link the issue of these deposits its role in the financing of small and medium enterprises and in proportion to the credit rates offered by state institutions and the public.

The public and the private banking sector coffers brimming monetary blocs accumulated without being employed in the financing of real projects, and is limited to the developmental role of government banks now on loans provided by specialized banks through its allocated in the general budget as in the provision for agricultural initiative or through the recent central bank loans, and receded developmental role of state-owned commercial banks to its lowest level due to fear unwarranted credit risk and suspicions of corruption Antiques working government banking, We see so clearly through lower hooves charged by workers in these banks that are found to be developmental institutions across the recycling deposits towards raising the credit rates and support the economy rates ..

Therefore, we are in dire need at this stage specifically for those who can put the cart on the right track to cross the crisis Baalmip, as what our coffers brimming with money and still suffer from financial mismanagement.