Economic parliamentary: No money rounded from previous budgets to compensate for the lack of liquidity

January 2 2016 17:20

Author: alzawraapaper

Baghdad / nina:
The economic and investment commission representative confirmed that the government does not have rounded funds from previous budgets of the Iraqi state could have offset the lack of liquidity faced by now.

She said committee member Rep. Nora Albjara the National Iraqi News Agency / Nina / that "in practice, according to official data government agencies, there is no cash or money actually rounded from previous budgets can be relied upon to cover the deficit in the public budget or compensate for the lack of liquidity currently. " She said "There are expectations of higher oil prices on the world market by the middle of the new year, but does not mean that the country will not face a severe financial crisis."

"The rumors about the intention of the government to grant licenses mandatory for employees or reducing official working in government departments compared to exchange half salaries , is not true did not respond within the budget law or Cabinet decisions. "

He showed that "cash reserve and pressure government spending and reduce the high salaries of officials, and the restoration of smuggled money and the fight against corruption, and expand non-oil revenues, you can with the government to provide salaries of state employees." And he found that "Iraq is facing a real financial crisis, but to declare the state bankruptcy this is difficult, because the government did not reach the stage of real austerity after even up to bankruptcy."

The local media picked up the news that the Council of Ministers is considering a proposal by the Ministry of Finance to overcome the deficit in the budget 2016 serving to reduce staff time in half, in exchange for giving them half the salary, in the event of low oil prices continued.