Najib: oil revenues not enough to cover the operating budget & Iraq resorted to bonds
Najib: oil revenues, not enough to cover the operating budget and Iraq resorted to issuing treasury bonds to meet the shortfall
March 27, 2016 17:44
BAGHDAD / nina:
Confirmed member of the Finance Committee MP Najiba Najib said all the amounts that come from oil revenues , not enough to meet the operating budget of the country, indicating, that the payment of civil servants ' salaries and expenses of the war against "Daash" This year has been made through the issuance of Treasury bills and money orders that are Ngdatha from the central bank reserves.
She said Najib told the National Iraqi News Agency / NINA / that "oil revenues for this year do not cover Batch / pay the salaries of state employees and file of the displaced and war against Daash expenses /, indicating that, all salaries and expenses other has through the issuance of Treasury bills and money orders that are fed Central Bank reserves. "
She noted that" two billion and 200 million dollars is oil revenues for the month of February , and Iraq needs a four trillion to pay salaries every month and need to pay Nvaqat for displaced people, indicating that all the amounts of oil revenues was complemented amounts issuing treasury bonds and treasury remittances, which being fed from the central bank reserves to enable Iraq to fulfill and ensure staff entitlements. "
She added that" if the rise in oil prices above the / 45 / USD will run investment expenditure and implementation of the stalled projects that the budget in fact will not allocate investment funds this year for service projects, asserting that, all the numbers in the budget, which was voted on will not be a real budget and has written and implemented in another form.