Sell the property .. last thing in quiver of Baghdad to cope with economic crisis
Sell the property .. the last thing in the quiver of Baghdad to cope with economic crisis
Author: Omar al-Janabi
09-01-2016 03:46 PM
Number of Views: 620
Iraq is in a severe financial crisis due to the large and sudden drop in the source of global market oil prices, which reached its lowest level, central government deficit from taking any measures and actions successful bridge the fiscal deficit and government bankruptcies experienced by the government.
Finance Minister Hoshyar Zebari has likely not be the Iraqi government employees' salaries distribution in March / March next in the event of low oil prices continued.
Zebari said in a press statement: "The Iraqi government and in accordance with available estimates, we may not be able to pay the salaries of staff in March / March next", and pointed out that "this is the reality of the case must be for the Iraqis to familiarize themselves with it."
Zebari explained that "in the event of continued decline in oil prices, we have several alternatives, including borrowing from international institutions, few benefits, and raising the Iraqi dinar exchange rate," adding to it not to grant a full staff salaries and raise the price of water, electricity and fuel service.
- Sale of state property
For his part, Economic Adviser to the Prime Minister Haider al-Abadi, Abdul Hussein Al-Anbuge, said in a press statement: "we met with specialists from all ministries and we went out a lot of the recommendations that improve revenue and throwing of spending, but did not actually translate in the budget, including the sale of parts of the State Property of land and government institutions excess and neglected, especially agricultural ones after turning the sex of the land from agricultural to residential and charge a fee to convert the genus land on every square meter a certain amount, especially as there are expensive, close to the religious shrines in particular the land. "
He called Anbuge reducing the dinar exchange rate against the dollar and convert the dinar exchange rate against the dollar to 1300 dinars per dollar instead of selling to 1116 dinars under the pretext of providing nearly nine trillion dinars, or about $ 8 billion.
For his part, he said economic analyst, Qusay al-Bayati, said in an interview to the correspondent of "Gulf Online": "The Iraqi economy during 2016 will move from the stage of contraction to the recession, the fact that the unilateral Iraqi economy is dependent on oil mainly."
Al-Bayati added that "oil revenues today do not believe in only a quarter of the budget in all its clauses," noting that in the light of the decrease in oil prices has become difficult to achieve what is planned in the budget of imports unexpected, which is 84 trillion Iraqi dinars (71 billion dollars) and the price of a barrel $ 45, "pointing out that" the decline in oil one dollar per barrel of oil leads to increased deficits additional billion dollars. "
Al-Bayati said that "if the Iraqi government did not rectify itself and is making successful strides through dependence on new sources of non-oil and tributaries such as agriculture, industry and tourism, they will see a complete breakdown in all aspects of the state."
The MP for the coalition of state law, Hanan al, had admitted earlier that the 2016 budget will be far from the 2015 budget of the worst, as the proportion of the deficit which will exceed 25 trillion dinars, noting that most of the provinces in Iraq did not receive its budget from 2015 , also pointed out that the provincial allocations will not exceed 30% of their actual needs next year.