Parliamentary Finance: budget deficit stands in way activating role of industry 10/6
Parliamentary Finance: budget deficit stands in the way activating the role of the domestic industry
BAGHDAD / Sky Press: Take the Parliamentary Finance Committee member Ahmed Sarhan, Tuesday, that the budget deficit stands in the way activating the role of the domestic industry, stressing that the deficit ratio rose to 29 trillion dinars in the 2016 budget. Said Ahmed for "Sky Press," there was "no to activate the role of industry in the country's financial allocations," noting that "the deficit ratio rose to 29 trillion dinars in the budget of 2016 and that oil revenues amounted to less than the current year to 69 trillion Iraqi dinars."
"The public expenditure for 2016 amounted to 115 trillion dinars and these huge amounts led to make the government put pressure on expenses for the purpose of the sustainability of its economy and thus depriving these sectors of the financial allocations," pointing out that "the fiscal deficit to make the government turn a blind eye on the staircase several industrial projects in the budget law".
He pointed out that "Iraq him a lot of debt since 1990 and these pose a significant obstacle to the Iraqi government, especially as countries that can not lend money to Iraq, but an interest rate of 12%, which is very large."
It is said that there are many lagging and non-completed projects in Baghdad and the provinces since 2007 until now, and that the biggest problem in these projects is that the financial handed her predecessor mostly implemented to get the job done without the companies.