Approval and problems ..

12/26/2015 0:00

Ali Hassan al-Fawaz
Is no doubt that the federal budget for 2016 is facing a lot of complications, despite approval of a comfortable majority in parliament, but would run into a lot of the facts, because there are obstacles related to the implementation mechanisms, and the possibility of the face of the deficit caused by differences in budget revenues, versus expenses, which developed this General legibility in front of a tough limits may Tnfrt in the event of exposure to the problems of application and to restrict the vocabulary revenue in Nags and comprehensive, including the Kurdistan region, revenue, or exposed to any other drop in the price of oil, which represents its revenue more than 90 percent.

Of the most complexities of balancing what the revenues from the province of Kurdistan amounting to 250 thousand barrels per day, as well as the Kirkuk oil amounting to 300 thousand barrels per day, since often this tube is affected by the damage and the ravages of terrorism, as well as affected by the export of weather conditions, and may sometimes be subject to the nature of political complications between the federal government and the Kurdistan Regional Government, which is facing financial problems large, as well as the problems that relate to restrict tax of border crossings revenues, particularly in the Kurdistan region, as it has become the subject of great controversy about Akiem revenues, and how calculated, and the statement of the party responsible for it, and introducing them into the federal treasury.

Even the face of the fiscal deficit will be are also controversial, especially since the budget law has authorized the Federal Minister of Finance to continue to borrow for the purpose of bridging the projected shortfall in the federal budget, and Arab, Islamic and international banks, which means downloading future budgets financial burdens on the mechanisms repaid, which means that the concerned authorities in front of the need to find other sources to maximize state resources, which belong to activate investment, agricultural, commercial, industrial and tourism sectors, as important sources are to overcome the deficit problem, versus Macklh these processors of the need to control the problems of unemployment, and the problems faced by the private sector in the fields of export and import can, and create real opportunities for the development of national industry and put it in the context of competition, as well as the need to ensure operational economic policies related to the treatment of indiscriminate import problems, and for the goods and similar produced with nationally, as the registered Akiem amounted to more than $ 53 billion of external import is a considerable burden on the budget , which calls for the need to treat and reduce It Okiemh to be a source for improving the performance of local sectors, or contracting with these sectors for the purpose of securing the market need of goods and to make them more effective, and more incentive to compete with goods imported and the origins of nearby countries.