Iraq did not borrow money during the current year to lack of budget deficit 10/10
Parliamentary Finance: Iraq did not borrow money during the current year to the lack of budget deficit
10/10/2015 0 Comments
BAGHDAD / Sky Press: Parliamentary Finance Committee confirmed on Saturday not to borrow funds from abroad this year for lack of a financial deficit in the 2015 budget, noting that most of budget items have not been implemented due to the adoption of exchange method month of the ministries and institutions. A member of the committee MP Hossam punitive for "Sky Press," that "most of the 2015 budget items have not been implemented as real because followers of the Ministry of Finance funds are disbursed to the ministries and institutions monthly policy and not launch at once, and since most of the state's departments carried out the rationalization of expenses, according to the reforms package Van ago the budget of the fiscal deficit. " He added that "in the event of the application of all budget items and according to the price set for oil export rates and there was a deficit of money multiplier", pointing out that the fiscal deficit for the budget year 2015 was a 25 trillion dinars. "
He noted that "the government is serious about reducing dependence on oil in the federal budget through the development of a project such as the launch trillion dinars to support small and medium enterprises as well as the 5 trillion dinars industrial, agricultural and real estate projects for the draft strategic plans."
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%.