The governor of the Iraqi Central Bank, said that the government is facing a deficit of $ 5 trillion dinars (4.17 billion dollars) a month to cover the salaries and expenses of critical, at a time when assured that the government did not reduce spending too much, it will resort to borrowing to cover the deficit.
And between on the Keywords that this amount when they do not have enough cover from the dollar from oil exports will certainly be covered by government borrowing, which the government is doing now.
Keywords and added that the slump in oil prices represents a significant strain on the financial resources are limited and make it under the current prices of existing private and that it was not accompanied by a reduction of government spending for itself.
Furthermore, the central bank stressed that the government did not reduce spending too much, while noting it needs five trillion dinars for salaries, he said the government will resort to borrowing to cover the deficit.
The governor of the bank on the Keywords, said that «the government still has to five trillion dinars per month to cover the salaries and expenses of critical», indicating that «this amount when they do not have enough cover from the dollar from oil exports will certainly be covered by government borrowing which is what you are doing currently the government ».
Keywords and added that «the drop in oil prices posed a significant strain on the financial resources are limited and make it under the current prices found in not accompanied by reduced government spending for itself.»
Keywords and pointed out that «the expenses when they are not connected to cover the export of oil, it will be a pressure on the reserve, because these expenses will turn into a request to buy the dollar and therefore, this process will cut the reserve indirectly».
Keywords emphasized that «the size of government spending when they do not have a cover of foreign currency, he resorted to borrowing to Ngtih difference».
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