Abadi: economic reform more difficult reforms and our revenues amounted to half What is needed

Views 18 Date 15/05/2016 - 19:25

BAGHDAD / Economy News ...

Counting Iraqi Prime Minister Haider al-Abadi, economic reform, "the toughest reforms," ​​and attributed the cause to "the need for the time being the cumulative measures", and also confirmed that there are plans for economic reform ", he pointed out that the revenue amounted to" a half he needs the country actually expenses for staff salaries and other while headed the Finance Minister Hoshyar Zebari, a large economic delegation to negotiate with the international Monetary Fund in the Jordanian capital Amman.

Haidar al-Abadi in a speech during a forum co-dialogue held in the capital, Baghdad, under the slogan (the young hope of Iraq), said that there are plans for economic reform, which is one of the most difficult reforms being needs time as the backlog of measures to reform the state's economy. "
Abadi added, "We we were able to conduct matters of state in spite of the financial crisis," adding that "our revenues amounted to half of what we need actual expenses for staff salaries and other despite the compressed significantly."

Iraq and live severe economic crisis due to lack of liquidity and government assurances ongoing need for austerity and reduced government spending, while the country faces an ongoing war with the organization (Daash) financial drain energies significantly.

In a related development he presided over the Finance Minister Hoshyar Zebari, a large economic delegation to negotiate with the International Monetary Fund in the Jordanian capital, Amman, as he emphasized that the delegation will discuss support Iraq to overcome its crisis of Finance, pointed out that the meetings will continue until the 18th of the month of May.

The Office of the Finance Minister, Hoshyar Zebari, said that, Zebari said "yesterday morning, arrived in the Jordanian capital, Amman, on top of a large government delegation that included the governor of the central bank and adviser economic Prime Minister and senior ministries of oil and electricity, planning officials and BSA as well as public bodies of Customs, taxes and retirement experts The Ministry of Finance and the Central Bank. "

The statement added that "the visit of the delegation comes to resume negotiations with the International Monetary Fund to seal the Stand-By agreement, which will provide Iraq with financial support to enable it to overcome the financial crisis and reduce the gap in the budget so as to enhance the economic and financial system reform process in the country."

The statement pointed out that "the first session held this morning with the IMF experts were reviewing the technical aspects of the agreement and the obligations opposite to both sides," pointing out that "the negotiations will continue until the 18th of May 2016," and expressed hope that "the termination of these arrangements during this Period".

The International Monetary Fund (IMF The International Monetary Fund), guessed at, (the thirtieth of March 2016), the possibility of approval to lend Iraq $ 15 billion over three years, through next June, while between that will provide five billion of them to believe the rest of other financial institutions and donors, he stressed that Iraq will receive five billion during the current year 2016, and the rest at the end of the agreement period.

The Finance Minister, Hoshyar Zebari, signed on 30 March 2016, Iraq received financial aid from donors and financial organizations of six billion and $ 400 million during the current year 2016.

The Economic Adviser to the Prime Minister and the appearance of Mohammed Saleh, in (26th January 2016), that Iraq has agreed with the International Monetary Fund for long-term soft loans for the implementation of development projects, noting that the fund is among other conditions, government spending, and Justice some of the procedures relating to economic policies, while counting economist that "the most important" of those loans is to know the amounts that will be obtained during the year 2016.

It is noteworthy that Iraq declared in the (13th January 2016), for the approval of the International Monetary Fund to finance the budget deficit through clouds of hard currency reserves, indicating that this means reducing those reserves from $ 59 billion the end of October 2015 the past, to 43 billion during the current year.

Content link