Zebari: We reduced foreign loans in the budget of $ 6 billion to two billion


Wednesday, October 21.2015

Baghdad Iraqi National / Agency News / Nina / Finance Minister Hoshyar Zebari said that all the numbers in the budget of 2016 and realistic and can be achieved, if what has been securing the internal financial resources, announcing the issuance of financial statement of all revenue and expenditure of the state for the Iraqi people the end of the current year.

Zebari said in a news conference in Baghdad today, "All budget figures Sttodh successively to the Iraqi people, in order to be on the lookout with state funds spent and does not have anything to hide," noting: "The figures are gross expenditures speculative amounting to / 106.9 / trillion dinars, of which current expenditure 77 trillion and expenditure investment 29 trillion.

"He added that" total revenue amounted to 83 trillion dinars 0.69 trillion dinars from oil revenues, and 14 trillion of non-oil revenues, noting that "the deficit select B / 23 / ​​trillion dinars."

He noted: "The current expenditures are included, State obligations of employees and retirees' salaries and social welfare and others, amounted to 72.2% of the budget in 2016. "said Zebari said that" the budget realistic, practical and all Ministers, experts and advisers involved being prepared, "stressing the importance of providing the budget on time.

And in connection with the financing of the deficit gap, said Zebari "The deficit financing alternatives to finance the deficit in this year, which used a lot of parties and include asset rounded the coming year in the DFI account and a loan of the Islamic Development Bank and a loan from the World Bank and SDRs and the issuance of foreign bonds and a loan of Japanese International Cooperation Agency and bonds internal debt to citizens by banks government, and loans to support the budget deficit by the International Monetary Fund and a loan to finance the listed investment projects budget and a loan from the National Bank of Qatar ", referring to the offer amounts up to more than 60% for each allocations as a result of retrenchment.

He guessed the Minister of Finance, improved oil prices, which will contribute to reviving the economic situation, but between: "It is difficult to reach the price of $ 100 a barrel."

With regard to the Kurdistan region, said: "The draft 2016 budget has kept the region's share fixed and will not be manipulated like its predecessor, on the basis of the province's commitment to send the oil resources of the center." And: "A delegation from the Kurdistan region will visit Baghdad soon to discuss the region's share in accordance with the oil agreement, and to review the agreement or the drafting of a new one", confirming the presence of serious thought between the two parties to reach a result.

On the subject of foreign bonds, he said: "The Foreign bonds were present in the budget law, and we as an executive we have implemented, but Interest calculated on this very high bond, Madfna to wait in, and its choice is based, if we need it but we Khvdhanaha of 7 trillion to 3 trillion dinars.

"In regard to the dues of oil companies, Zebari stressed the payment of all dues companies in previous years, and that the dues in 2015 pushed them two batches of 3 and the third will pay after the Ministry of Finance Agreement and oil on it.

He said: "The blessings of the new salary decision taken by the prime minister to achieve the kind of social justice, of by reducing some allocations higher grades and submit them for lower grades, "pointing to the existence of a deliberate distortion of the actions and decisions of the government, including the salary scale .