2016 budget. Increased government spending and the deficit is very serious 9/26
2016 budget. Increased government spending and the deficit is very serious September 26, 2015 1
He is a member of the parliamentary Finance Committee, on Saturday, the draft budget next year 2016 Government expenditure has increased from what to make a very serious deficit.
Haitham Al-Juburi, among reporters followed "our economy" newsletter that "we fear and fear of deficits, which up to 29 trillion dinars compared to expected revenues of 84 trillion dinars".
"The Commission has competence to reduce and redeploy the budget seeks to reduce the deficit to very risky as giving authority to the Government to borrow internally and externally also where many caveats.
Al-jubouri said that "foreign borrowing terms, including the lifting of subsidies on essential goods and services provided to citizens, such as petroleum products and other such causes problems as well as for sovereign guarantees which will mortgage the future of Iraq and the economy to overseas countries and the International Monetary Fund, we will in Iraq being trouble so we'll put pressure on the deficit reduction to what we can do."
"The operating expenses for the year 2015 and today we're in September, the Government has spent 44 trillion dinars since the beginning of this year, leaving these customizations only 25% expenditures to the end of the current fiscal year and an estimated 11 trillion dinars".
And a member of the parliamentary finance it by adding this amount (11 trillion dinars) to the beginning of the year was spent (44 trillion dinars) will be the year-end expenses as real exchange about 55 trillion dinars, why the draft budget expenditures of 84 trillion in 2016, JD, why this difference between the equal, though he did not get a change in the monetary policy of the Government?! ".
Al-jubouri said that "Iraq has spent 55 trillion dinars of this year and that amount was enough for government expenditures, why this increase to 2016 and approximately 29 trillion dinars?" pointing out that "this difference ythatag follow-up of expenditures and may be increasing, but not this big difference."
"We will follow the final accounts for the year 2015 and that Government spending did not stop such as salaries and others if the Government recognizes these accounts we will be passing along the responsibility and the Iraqi people, we will look at these facts," he said, adding "the presence of these accounts to budgeting next year."
He ruled out parliamentary Financial Committee member "rounded amounts from 2015 to 2016 because of spending all customizations specific to selected institutions and bodies", noting that "the Finance Committee despite their efforts in amending budget law but unfortunately the Government eventually challenged and achieve what you want and therefore we will deal realistically and cooperate as much as possible."
Draft Finance Ministry was to balance the 2016 submitted to Cabinet last week reported expenditures of 113.5 trillion Iraqi dinars (78.87 billion dollars) with a deficit of 18.3 trillion dinars (25.81 billion us dollars).