******** News of the government's orientation to borrow $ 30 billion from the central bank

Baghdad, Mohammed Hadi

After the government denied its intention deducting a percentage of employees' salaries or reduce their numbers, remains the most prominent options before them "internal borrowing or external, or go to print local currency, the cover of which the salaries of its employees," but the latter proposal seems difficult for the central bank in the absence of covered by oil revenues, or otherwise.

He revealed former ministers and MPs, headed for the government to borrow $ 30 billion from the central bank to meet the budget deficit, but that requires legal according to "Modify the central bank, which prevents this law."



He says deputies in the Finance Committee in the House of Representatives, that the central printed 5 trillion dinars from 50 Alpha class, soon plans to launch, to be one of the solutions to tackle the financial crisis faced by the country.

Deputies reported that the currency that will be covered from the central reserve.

Iraq complains weak financial revenues due to declining oil prices and increased military expenditures, which comes on the side of her head, what made the government resort to austerity as one of the solutions adopted to meet the country's economic situation started.

He said the Finance Committee in the House of Representatives member Ahmed Hama Rasheed said in a statement to "the world", on Monday, that "net revenues from Iraqi oil in the last month amounted to one billion and $ 200 million, after deducting production costs," while an employees' salaries per month up to 3 billion and $ 600 million.

Therefore Rashid urges the government to "Tsarh people the size of the crisis experienced by following a decline in crude prices."



He revealed Prime Minister Haider al-Abadi, the beginning of this week, that "what is left for us only $ 13 of a barrel of oil, after deducting the cost of production, and we have to maintain the continuity of the war against Daash at the same time we maintain the functioning of the country's economy."

He says Rashid, a member of the Finance Committee for the Alliance Alcardsata, that "the continued decline in oil prices, calls on the government to move towards other options, including specific changes in monetary policy, put property and real estate State untapped sellers, as well as the sale of quantities of oil on credit ".

Rashid also proposes to resolve the crisis, "borrowing from the central bank through government and private banks."

The member of the Economic Committee in the House of Representatives Najiba Najib, said in an earlier statement to "the world", that "Real Estate State if exploited properly will bring financial and imports adjusted oil revenues", noting that it "represents a sustainable wealth may contribute to the Iraqi stimulate the private sector as well. "

The state owns 200 000 property, mostly untapped, according to specialists, the sale will provide up to $ 150 billion.

And the proposal put forward without monetary mass balance in order to cover the deficit, Rashid said, "The central bank recently printed a class 50 000 dinars, quantities amounted to 5 trillion dinars."



He pointed out that "50 thousand dinars, which will hopefully be put to the market soon, covered from the cash reserve at the central, and that up to 60 billion dollars."

For his part, former minister and MP, and Wael Abdul Latif said in connection with "the world" on Monday, that the budget estimates were not realistic, and in particular in determining the price of a barrel of oil dollars to 45, pointing out that "the government is counting on the tax to be reaped from citizens, In addition to seeking to reduce some of the self-funded departments and convert Mozifaa into retirement. "

He revealed Abdul Latif for "government went for the withdrawal of 20 to 30 billion dollars from the Central to cover the budget deficit", warning that "such a move requires the central bank law amendment in the House of Representatives, and the judge to prevent the government from borrowing from the bank."



Abdul Latif and excludes cash currency put up without balance at the present time, on the grounds that such a move according to his opinion, "which will reduce the value of the Iraqi dinar against other currencies, the local currency and makes the paper without any value."

The Oil Ministry announced, yesterday, that the Marketing Company (SOMO) affiliate issued a total of 99 million and 700 thousand barrels of the total production of the center and south, which exceeded Al128 million barrel fields, through the ports of Basra, in December 2015 the past, while showed that revenues amounted to two billion and 920 million dollars, confirmed it had "not been able to" export through the northern port to the Turkish port of Ceyhan as a result of "lack of commitment" by agreement of the Kurdistan region's oil.

The Finance Minister Hoshyar Zebari said last Thursday that "projections indicate that the collapse in oil prices will continue due to the recession of the global economy," noting that "much of the world and the Gulf worked towards investment and collection to control the economy without being influenced by a fall in oil prices."

He called Zebari, to "make a real and radical reforms of economic structure to review all expenses objectively," stressing that "the ministry has instructed the implementation of the budget to maximize internal resources and increase tax collection, and gave freedom to the provinces this aspect and expand the non-oil resources which they can support the country's economy in the budget." .

Zebari said, that "the ministry met with economists and bankers experts economic Committee and we discussed solutions for the development of the budget and the fulfillment of obligations and the development of the crisis experienced by the country solutions," he said, adding, that "the outlook suggests that oil prices will begin to rise at the end of the current year."

The Minister of Finance, that "a team from the ministry was able to provide the overhead 43 trillion dinars and we were able to end last year's abundance instead be a deficit."

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