Deputy: adopt severe austerity measures over the next year 10/23/2015
Deputy: adopt severe austerity measures over the next year
He confirmed the National Alliance MP Ali Shukri, said that next year, 2016 will see an increase austerity measures.
He said Shoukry told all of Iraq [where], that "what is subtracted from the budget approved by the Council of Ministers shows clearly that there are austerity measures severe, Noting the adoption of the price of a barrel of oil to $ 45 and the overall budget is 80 trillion dinars, which almost means 65 billion dollars, so there is a very big austerity measures. "
He called for a "lending in investment expenditure," noting that "there are some projects may have found to accomplish 90% stage and can not be spending it which is causing Bandtharha and deprives us of the benefit from them, also reduces the confidence of the contractor who reached an advanced project in the state stages."
He thanks that "we have the completion of projects which are at an advanced rate."
The Finance Minister, Hoshyar Zebari, said during a press conference last Wednesday that "it is difficult to continue monetary policy and past expenditures and we have to happen to change and reform in this direction and can not run the state like what it was previously, and the year ahead will not be easy from a financial point will be a difficult year and this is not only in Iraq but in several countries in the world because of the dramatic decline in oil prices. "
And "we seek to finance the deficit of the external loan and we have negotiations with the Qatar National Bank in this regard."
It is said that, the Council of Ministers approved in its meeting on Sunday, the draft federal budget for fiscal year 2016, and amounting to 106 trillion dinars a deficit of more than 22 trillion dinars, on, average oil price of $ 45 and the export of 3.6 million barrels per day, as pointed out that Budget revenues will amount to more than 84 thousand trillion and 73 billion dinars.
Parliamentary Economic Commission revealed last Tuesday, for the arrival of the draft federal budget law for 2016 to the presidency of the Council by the government.
A member of the Committee Sabhan Solomon, for [where], "The Presidency of the Council of Representatives received a draft federal budget law but not delivered copies to the relevant committees yet," noting that "the Council will start the procedures in approving the budget, so read the first and second readings and then vote them, "explaining that" the length of time in front of the House of Representatives is until the end of October this month ".