Abadi adviser describes the 2016 budget as "stimulus austerity" and an expert on the success of government bonds pledged international support

January 2, 2016 17:17

Stressed the economic advisor to the prime minister Haider al-Abadi, said on Saturday that Iraq is suffering from an economic recession due to the financial crisis, and a description of the financial budget for the current year 2016 as the "stimulus austerity", and with the exception of an economist that the budget "poor" for they are free of appointments and the fall in world oil prices, and lack of support from government and the private sector, he pointed out that the success of the government bond market, which intends issued depends on the support of the International Monetary Fund have.

Saleh: 2016 austerity budget but motivational

He said the appearance of Mohammed Saleh, an economic advisor to the prime minister Haider al-Abadi in an interview that "talk of a recession in Iraq is a foregone conclusion," attributing it to "financial crisis plaguing the country."

Saleh added that "the manifestations of the economic recession in Iraq is clear, from the high unemployment rate that reached 28 percent," denying "the existence of inflation in Iraq, although as the rate amounting to two percent, the lowest in its history."

He predicted economic adviser, that "the growth of GDP between one range to one and a half percent," returned as "better than in the past in 2014, although it is less than the population growth of 2.8 percent rate, as this difference is not conducive to the economic sector and the widening growth his movement. "

Saleh stressed, "The government went to sell the bonds two billion dollars, came within the project's budget next year to meet the 2016 deficit," returned to "plug in the budget does not reflect the ways they austerity, it is still great."

He guessed adviser Abadi, that "those bonds are very popular," pointing out that it was caused by "being the sovereign as well as higher interest rates and possible and take advantage of mortgage debt in the dam."

Saleh continued, that "the budget for Iraq in the next 2016 involving deficits and austerity, but motivational," stressing that "the stimulus in the largest proportion of the budget deficit."

And it saw economic adviser, that "the current financial year, successful, stressing that" the government strives for the success of the financial plan in the next 2016 budget. "

Expert: the success of the bond depends on the support of the International Monetary Fund

For his part, predicted economist Bassem Jamil Anton, in a newspaper interview that "the witness Iraq economic recession during the next 2016," attributing it to "Adults balanced and free of appointments poverty, low world oil prices, the loss of hope for a rise soon, as well as lack of support for the government private sector".

He revealed Anton, about "the existence of a proposal to reduce the days of staff time, and the reduction of their salaries, what will the dish, to reduce their purchasing power, and people keep money in anticipation of the future of the unknown," pointing out that "the government went to sell the bonds two billion dollars came in the draft budget for 2016 to meet its deficit The welcome and find if supported by the International Monetary Fund. "

Ouhz economic expert, of "the consequences of lack of support from the International Monetary Fund for Iraq", he returned that "it is difficult from the sale of those bonds externally."

The Finance Minister, Hoshyar Zebari, announced on Monday (the 28th of December the current 2016), for the revival of bond sale two billion dollars a plan in the next 2016, noting that the budget allows the government to sell bonds two billion dollars if lacked the sources of funding for the targeted spending.