Saleh: The 2018 budget was built on the basis of financial consolidation

Baghdad / Shukran al - Fatlawi after the Prime Minister Dr. Haidar al-Abadi, to review the proposal for the budget of 2018, and reduce operating expenses, with "the need to secure international and national commitments in the payment of loan receivables and benefits and the strengthening of non-oil revenues through the activation of various activities and increase productivity," revealed the financial adviser to the Prime Minister appearance of Mohammed Saleh, 2018, which was lifted from the Council of Ministers to the House of Representatives, was built on the basis of the so-called "financial strengthening" of the necessary expenses, the strengthening of non-oil resources, reduce borrowing and the accumulation of debt, stressing the importance of these tripartite financial sustainability. Financial Consolidation

Saleh stressed in his speech to the "morning" that "any manipulation of these elements is the country back to square one, especially as the oil quake has long-term effects, as well as the accumulation of debt," stressing that "the need not to return to the collapse of spending again in the event of any Improved oil prices. "
He stressed "the importance of continuing financial discipline and high caution until the absorption of debt that resulted in the past years, as well as the importance of directing a lot of resources to revitalize the infrastructure, which affected many of them during the past years for one reason or another." Investment Customizations

And on the appropriateness of investment allocations, the need of the country, Saleh said, "the investment budget, the only sector of the energy sector and the infrastructure sector and any excess achieved is used in the approval of supplementary projects plus debt response," stressing that "any improvement in oil prices outside what is scheduled in the federal budget $ 46 a barrel With the export crew of 3.88 barrels divided into two parts go first to repay the debt and not to borrow, especially that the budget deficit estimated at 13 trillion dinars covered by self-financing, while the other serious orientation towards the activation of outstanding projects and strategic projects that did not find an opportunity to implement because of the difficulty Tamwei ". Financial Planning and added that "any trends towards expansion of the operational budget is dangerous and Ainsjm with proper financial planning long - term trends adopted by the state and return to the correct bases in the face of future shocks that the oil market is calculated the consequences."

Saleh explained that "the composition of the budget because of the fixed expenditures of the budget, primarily salaries, wages, retirement and social welfare constitute more than 50 percent of the budget expenditure, accompanied by the requirements of the operation of the state, which constitute about 75 percent as well as 25 percent of the investment budget," stressing that " The deputies to take into account the response to debt and directing the effort towards investment spending, especially in the case of reconstruction and infrastructure care and priorities. Facing challenges

On the question of how to address the challenges of the budget in 2018 Saleh explained that "there is a state of understanding prevailing within the Finance Committee at the moment to make them accommodate those challenges," noting "the importance of taking into account that the challenges to face away from the position near the elections and use as an electoral pretext because the interest of the country's supreme interest and financial stability "Saleh pointed out that" the directions of the Finance Committee in general started correctly and in line with the vision of the government to present the budget to the
House of Representatives. " Oil prices member of the Finance Committee pros Hamadoun saw that " to continue the policy of austerity, comes as a result of the continuing financial crisis, saying that the rise in oil prices, recorded a surplus in the state budget, as well as deductions from employees ' salaries and taxes that were levied, funded by the popular crowd and displaced persons requirements."

Earlier reports confirmed that the budget for 2018, no different from the current year in the lines, only some minor changes in the special items, such as the establishment of the public debt compensation fund, in addition to some paragraphs supporting the private sector and the domestic product at the expense of the importer, In the budget may be like the previous ones and there is not necessarily a rise in the proportion of the deficit.