Central Bank: 78 trillion dinars non-oil deficit in the budget of 2017




15-07-2017 01:54 PM
Euphrates -

Central Bank Governor Ali Keywords on Saturday announced that the non - oil deficit in the current year budget was 78 trillion dinars , indicating that the balance of payments deficit of non - oil exports of $ 37.7 billion.

Keywords and said in a meeting of the Institute for the progress of development policies that the non - oil deficit in the current year budget of 78 trillion dinars , because local revenues today constitute 22% , while the ideal situation to be local revenue covers the size of local expenditures, pointing out that this leads to the instability of the state budget because dependence on the size of the money that comes from abroad is higher than the money that comes from the inside.

He added that Iraq 's revenues expected during the next five years , oil will be 53 trillion dinars to 64 trillion dinars, indicating that the deficit in the balance of payments currently amount to $ 37.7 billion. Adding that the shortfall in the balance of payments will put pressure on the central bank today because the country is unable to enter a foreign currency as well as money entering the oil, noting that Miran payments deficit means that the country is unable to attract investors and tourists


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