Dr.. Wafa James Baldwin: to look for non-oil sources of financial

12/21/2015 0:00

BAGHDAD Shokran Fatlawi
Promised Academy d. Wafa James Baldwin balance the 2016 budget crisis, they came in the midst of a global economic crisis represented by lower oil prices and thus lower Eradat.hat approved a budget for next year in 2016 by the House of Representatives total expenses of 105 trillion and 890 billion Danarobinsbh deficit of 22.8 percent and total revenues reached the 81 trillion and 700 billion dinars formed oil revenues, of which 69 trillion and 773 billion dinars, representing 85.1 percent of total revenues.

It urged James Baldwin on the need to reshape the country's economy and the search for alternative sources of revenue of the fact that economic imbalances and disease began deepened significantly in the joints of the Iraqi economy, pointing out that revenue is oil accounted for 13.6 percent of total revenues in formed the current expenditure (operational) more than 80 trillion dinars, a rate of 76 percent Maaouka the Iraqi economy in crisis Kberh.wachart to seek budget to address this challenge through pressure on investment spending and thus has become the development goals deferred to come periods of time being given the weight of the balance of operational side on the investment side account, where form Alajermanspth 23.8 percent.

The Ministry of Planning and promised financial budget for 2016 Baltqhvih, realistic and non-investment aspects, indicating that «loans to Atsd deficit».

Among the official spokesman of the Ministry in a press statement that «the budget is not commensurate with the investment project size and this is because of the lack of revenue because it is barely sufficient operational side, where there are a lot of expenses, including staff salaries and the requirements of the popular crowd».

He added that «this year's budget free of new investment aspects but perpetuate the previous projects initiate them has not been completed or perhaps deleted or be delayed, noting that «loans have negative and is able to bridge the budget deficit because it is often not affordable and not commensurate with the orientations of the government aspects, speaking about some processors such as imposing taxes or resorting to domestic borrowing« .