Iraq confirms economic difficulty for foreign loans to bridge the budget deficit 10/6
Iraq confirms economic difficulty for foreign loans to bridge the budget deficit
10/6/2015 0 Comments
BAGHDAD / Sky Press: economic expert said Maytham coffee, Tuesday, the difficulty of Iraq's access to financial loans to bridge the budget deficit because of its intention to issue bonds worth 7 trillion dinars. The coffee in his own account, "The budget deficit rose from 25 trillion dinars in 2015 to 29 trillion dinars in 2016, the deficit is covered in a traditional internal and external borrowing, but the irony is that there is difficulty in this borrowing, where that Iraq intends to issue bonds by 7 trillion dinars for the purpose of selling them ", adding that" this amount is large and there are collected in doubt because of lack of blockbuster lenders to buy these bonds. " He added that "there are reliable on oil, where oil revenues ratio estimated 83% for 2016, compared to non-oil 17%, but that the non-oil revenues for 2015 and estimated 15 trillion borders, has been collecting them actually only 2%."
Iraq and many countries in the world is witnessing an economic crisis, as a result of falling oil prices, the global stock market, below $ 48 a barrel, after it was $ 110.
Iraq relies, by 85%, on oil as well as Iran and Russia Almtdharran biggest with Iraq in lower prices, as a result, the Iraqi government was forced to announce, an austere operations, in general in the country in an attempt to fill the budget deficit, as well as the government announced Iraq, reducing the Council of Ministers' salaries 50%.