Economic Adviser: Balancing austerity and 2017 will stimulate the development of non-oil resources


Detect financial advisor to Prime Minister Haider Abadi, on Friday, the end of the Ministry of finance budgeting 2017, stressing that its value would be approximately $ 82 billion at the price charged $ 40 for a barrel of oil and $ 18 billion deficit, economists warned of foreign loans on consumer spending, leading to the bankruptcy of the State Treasury and debt accumulation.

He said that the "Ministry of finance concluded budgeting 2017 and will be presented for discussion in the Cabinet in September.

"The clear budget value amounted to nearly 82 billion dollars oil price charged $ 40," he said, adding that "the Cabinet will send a draft law to the House of the beginning of October of this year."

Economic Adviser stressed that "balancing austerity would be 2017 and motivational for non-oil resources development as walkmark and other taxes.

And in favor of the draft law took into account the support of the private sector and significantly joint management of some important investment in the State. "

Anticipating a financial adviser to the Prime Minister that "the budget deficit in 2017, up to about 18 billion dollars, and the balance was drawn in accordance with what was agreed with the IMF."

Main street Economist, said alaibi in interview for "range", "OLE estimated that balancing 2017 will build at the rate of $ 40 per barrel, and that budget expenditure initially estimated up to 82 billion dollars.

"Next year's budget will be bound by the terms of the Monetary Fund under the State's actual spending reduced by 13 trillion dinars, versus loan fund to cover the shortfall.

Alaibi and "staff salaries and the crowd a safe and retired as the initial estimates to balance the 2017 in addition to the cancellation of some paragraphs that are necessary to support the military side in the defense and interior ministries.

The Economist stressed that austerity will be 2017 balancing with distinction and devoid of investment to build customizations based on the optimize non-oil revenues where roofs oil revenues 90% ", describing" budget expense distribution accounting agency as a result of oil revenues.

Alaibi warned of "foreign loans in consumer spending, which includes salaries and other economic actors without developing strategic projects.

For his part stressed the House Finance Committee member Haitham Al-juboori, during a parliamentary, hosting "non-oil revenue and customs services include State properties and the communications and Media Commission is essential to rising imports," indicating that "the Financial Committee meeting discussed balancing the deputies and human rights High Commission and the Supreme Judicial Council.

In the same context the economic expert said Abbas Al-bahadili, in an interview for "the range", that "Iraq lacks statistical plans to base the annual budget in accordance with specific numbers, quantities of oil source and sums of sell on the basis of annual budgeting.

"Successive Governments for nearly ten years failed to apply annual budgets without its final accounts.

Danny explained to "ignore authority responders parties policies the economic side of the country caused by multiple financial crises may lead Iraq into bankruptcy without a doubt."

The plan for the approval of next year's budget without reducing the 50% of the salaries of the three presidencies plus special ratings strength arrived by the thousands, converting part of the budget allocations to the development of major projects is futile. "

The Cabinet was discussed, Tuesday (16 August 2016), the country's budget for 2017 after submission by the Ministry of finance, among his past government reform project in all sectors, said the Government's success in pressing expenses and financial crisis experienced by the country.

The Iraqi Parliament, an absolute majority during its first legislative term of 45 for the second legislative year, held in the fall (16 December 2015) led by Selim Jabouri and attending 242 deputies, balancing 2016 next rose 105 trillion 800 billion dinars, the Kurdistan share of 17 percent, while the State of law Coalition claim reduced to 13%.