Planning: dinars oil imports trillion a month and stocks must be adopted to ensure ..
Planning: dinars oil imports trillion a month and stocks must be adopted to ensure the central bank salaries
1/7/2016 0 Comments
The technical agent for the Ministry of Planning said Maher Hammad, hosted by the Baghdad Provincial Council, said the size of the financial revenues from oil sales are estimated trillion and a quarter trillion dinars per month which means a deficit in securing the operating budget.
A statement by the Baghdad Provincial Council, received by all of Iraq [where], a copy of which said the council "hosted a technical agent for the Ministry of Planning Maher Hammad, was talking about the possibility of funding for service projects strategy in accordance with the payment on credit system, and securing adequate financial coverage requirements of the operating budget of the Baghdad Provincial Council and staff salaries for 2016.
"He added that" the meeting included put visions and proposals about the possibility of financing strategic projects in Baghdad, estimated at more than 270 projects had been foot-dragging and stop in the stages of completion, due to the lack of financial allocations sufficient to sustain it in the budget year 2016 ". He pointed out that" The Ministry of Planning showed the existence of a real deficit in the state budget is estimated at 24 trillion dinars, and with a need to secure to $ 3 trillion and a half trillion counterbalance operational monthly for state institutions. "She drew the ministry, according to the statement that" the size of the financial revenues from oil sales are estimated trillion and a quarter trillion dinars per month, which means a deficit in securing the operating budget, but that does not absolve the government of its obligations to secure the employees' salaries by activating the shadow budget, relying on other sources of funding, including through stockpiling cash with the Central Bank. "and urged the ministry Provincial Council Baghdad for "activating the payment system on credit with an emphasis on negotiating with contractors and companies and put guarantees public rights and privileges mechanism." The statement pointed out that "the ministry has not included in the current year budget of any new project with the exception of service projects identified by the emergency and critical cases to the provinces". The sound of the Board Representatives on the budget that the current year, which accounted for current expenditures [operating] in which salaries and other more than 80 trillion dinars, and increase of 76% [of total expenditures 105 trillion dinars] while the capital expenditures of more than 25 trillion dinars, and increase of 23.8%. The Finance Minister Hoshyar Zebari warned last Monday, the Iraqi government will not be able employees' salaries for the month of April next distribution, if the oil price remains low, pointing to the existence Options Kalaguetrad and raise the price of basic services and the sale of bonds Alsiadeh.