Parliamentary Finance: 2017 budget of 100 trillion dinars and a deficit of 21%



25/10/2016 (0:01 pm) - The number of readings: 210 - Issue (3766)


Baghdad / pro-Kanani term

Parliamentary Finance Committee, announced on Monday, said the size of the budget for the year 2017 amounted to 100 trillion dinars. And as pointed out that the size of the oil revenues will reach 67.5 trillion and the deficit reached 21%, confirmed the approval within the constitutional period specified, as economists pointed out that government budgets do not match the economic reality, demanding the need to uncover the final accounts of previous years.

The committee member said Masood Haider, in an interview with (long-Presse), said that "the general budget for 2017 amounted to 100 trillion revenue oil Tkdrb 67.5 trillion and 11.6 trillion in non-oil revenues and a deficit of 21%," adding that "the total foreign loans in the budget is 5.6 trillion dinars. "

Haider said that "oil production ceiling in the budget amounted to 3.75 million barrels, including 550,000 barrels of the Kurdistan region, pointing out that" the price of the estimated budget of $ 42 a barrel. "

Haider said that "he is expected to approve the budget during the constitutional period specified."

In turn, the economist said Uday Abdul Amir Amir, in an interview for the "long", that "next year's budget is governed by several factors, including the cost of the war on Daesh which have escalated to gradually occupies nearly one-third of the federal budget in addition to the external and internal debt accumulation."

He added that "induced spending witnessed in the budgets of 2016 and 2017, including the rescue of more than 3 million displaced people and the reconstruction of liberated cities in conjunction with the decline in world oil prices in addition to the decline in the role of the productive sectors such as industry, agriculture and tourism, will impact heavily on the budget next year without serious action by the government to look for multiple financial revenue increase state revenues. "

Amer said that "the government must adopt a realistic budget in accordance with the expectation of no more than $ 40 per barrel to counter any new drop in oil prices in the future as well as a review of the basic joints of exchange in the country and work on the rationalization of fiscal spending heavily."

He said the "face of financial and administrative corruption and waste of public money operations requires JavaScript regulators Kdioan financial control would direct budget expenditures towards beneficial investment projects of general benefit to the country and provide new job opportunities for the unemployed and generate new money supply the public treasury."

A number of experts predicted that Iraq's budget for 2017 is just over 100 trillion dinars and a deficit of 30 trillion dinars, the adoption of the barrel price of $ 35 card and export the amount of 3.88 million barrels per day, while the amount of this year's budget 105.8 trillion dinars, or about $ 95 billion, and the deficit expected at around 24 trillion dinars, the equivalent of about $ 20.5 billion.

For his part, economist government budgets as fictional not match the true reality of the Iraqi economy, which drained as a result of the embezzlement of officials and influential billions of dollars during the previous years.

The economist said Abbas al-Bahadli in an interview for the "long", that "the government budgets is the paper for not taking by the state institutions that wasted money without any legal accountability in addition to the lack of final accounts indicate the amount of money spent during the entire year."

"The cancellation of the currency auction in the central bank will reduce the dollar exchange rate to the real price, which amounts to 1190 and reduce the daily turnover of the dollar process, and it will pay Nhawwalaatmad the national industry and agriculture that would achieve self-sufficiency for quite a few of the goods and services imported with funds selling oil." .

Among Bahadli "The worsening of the real deficit in the draft budget law will lead to a decline in service activities for the government as a result of the lack of liquidity with the fluctuation of oil prices and rising public spending for the state."

He stressed that "reducing the salaries and allowances of officials, worth millions of dollars a year in the first austerity steps that the government should be taken without resorting to prosthesis solutions Castqtaa part of employees and retirees who have served the country for 30 years' salaries."

Iraq relies on oil revenue by up to about 95 percent to cover the expenses of the state, which led to a financial deficit for two consecutive years and the use of domestic and foreign loans to cover them, because of the decline in oil prices to below $ 50 a barrel.

The head of the House of Representatives said Saleem al-Jubouri, from the first Sunday, all assume the presidency of the parliament finance the budget law for next year 2017, as amended by the Council of Ministers, in the face of its inclusion on the agenda of the 25th session agenda.

He announced the Prime Minister Haider al-Abadi, on Tuesday (18 October 2016), send the draft budget to the 2017 Act to the House of Representatives after making amendments to it, as he emphasized that the project included the previous agreement with the Kurdistan region, while pointing to an amendment to the draft General Amnesty Law.

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