The government is considering selling real estate State and resort to "Central and deposits" to confront our financial crisis

2016-01-26 00:54:13 | (Voice of Iraq) - Baghdad

Iraqi government and parliament is considering options to remedy the critical repercussions of the financial crisis caused by the decline in oil prices, which reached to below $ 30.

Parliamentarians and predicted that the 2016 deficit beyond the barrier of 50 trillion dinars budget, but they saw the difficulty confirm the high deficit by two months.

And the voice of the House of Representatives, in the middle of last December, on the draft budget for fiscal 2016 worth in excess of 105 trillion dinars law, and a deficit of more than 24 trillion dinars.

To address this critical scenario, the Economic Commission plans to host the central bank governor to discuss the solutions available, pointing to the possibility of disposition of the monetary bloc with the Central Bank amounting to 39 trillion dinars to fill the budget deficit.

The Finance Committee confirmed that the current year will be a difficult year on the government and the citizen, suggested resorting to the sale of properties and the issuance of state treasury bills. But he expressed optimism for the return of oil prices to rise by the middle of this year.

MP says Najiba Najib, a member of the Economic Committee, said that "all the budget deficit is put up expenses from revenues, and stood at the current year's budget deficit of 25 trillion dinars calculates the price of a barrel of oil on the basis of $ 45." But stressed that "revenues received by the state are very few, especially after the decline in oil prices in the global markets."

She said Najib told (the term) that "Oil fell below $ 30 led to the widening deficit gap, which exceeded the 50 trillion dinars in the first month of the new year," predicting that "the current year, a difficult year compared to previous years."

And she revealed a member of the Economic Commission for final determination "to host the Governor of the Central Bank for its actions to resolve the economic crisis experienced by Iraq Placement internal and external bonds or raise the price of the dollar and other options."

Despite the continued decline in oil prices, but the Kurdish MP expects "high oil prices in the second half of this year, which will amount to $ 40 down to $ 60 at the end of the year."

Najiba Najib noted that "the government has begun a study of several options to cross this crisis, including the sale of state property scattered in all the provinces as well as the issuance of internal and external treasury bonds so as to ensure bridge the deficit gap."

It draws member of the Economic Committee that "the central bank has a cash block up to 39 trillion dinars is the sum of the amounts deposited in state banks and traded in the market", and found that "possible to make use of them by issuing domestic bonds and interest to ensure these funds."

And stresses the parliamentary veteran on "the state's ability to pay its employees and retirees for the current year lock".

Turn MP Jabbar al-Abbadi says that "it is not possible to estimate the budget deficit in the first month of the current year unless two months going through at the very least."

He said al-Abbadi, told (range), "The government has several options to enable them to overcome the financial crisis through the sale of properties the state and the issuance of internal and external treasury bonds and borrowing from international banks," he said. "All these options are open in order to address the crisis."

He recognizes a member of the Parliamentary Finance Committee that "this year will be a difficult year on the state and citizens because of falling oil prices, which we expect improvement in prices in the second half of this year."

In the same context, MP pros Hamadoun revealed that "the state is considering raising the value of the dollar against the Iraqi dinar for control of the market."

She Hamadoun, told the (range), "there was a significant decline in oil prices, which makes it imperative for the government to resort to several options, including external borrowing or sale of property and other State".