Economic Adviser: 2017 austerity budget will stimulate the development of non-oil resources

Financial advisor to the Prime Minister Haider al-Abadi revealed, Friday, for the end of the Ministry of Finance to prepare 2017 budget, stressing that its value would be about $ 82 billion at a price calculated $ 40 for a barrel of oil and a deficit of up to $ 18 billion, while economists warned of the loan disbursement Foreign consumer spending, leading to the bankruptcy of the government treasury and the accumulation of debt.


Saleh said, "The Ministry of Finance has completed the preparation of the 2017 budget will be presented for discussion in the Council of Ministers during the month of September."

Saleh pointed out that "the budget amounted to nearly $ 82 billion at a price of 40 dollars of oil calculation," adding that "the Cabinet would send the bill to the House of Representatives beginning in October of this year, a month."

The economic adviser said, "2017 will be the budget austerity beyond borders and stimulus for the development of non-oil resources such as taxes and customs and others."

And Saleh, said that "the draft law took into account the private sector, largely supporting and configured to manage some investment joint mission in the state."

He predicted the financial advisor to the Prime Minister that "the budget deficit in 2017 up to about $ 18 billion," stressing that "the budget was drawn according to what has been agreed upon with the International Monetary Fund."

In turn, an economist Maitham defect, said in an interview for the "long", "The first estimates indicate that the 2017 budget will be built on the basis of a price of $ 40 a barrel, and that the budget expenditures initially estimated up to $ 82 billion."

He added that "next year's budget will be committed to the IMF conditions, which necessitated the reduction of the actual spending of the state by almost 13 trillion dinars, compared to fund a loan to cover the deficit."

And the defect that "the salaries of employees and retirees and the crowd will be secured by the preliminary estimates of the 2017 budget in addition to the cancellation of some paragraphs is necessary to support the military side in the ministries of defense and interior."

The economist said "2017 budget will be austere distinction and devoid of investment allocations which will be built on the basis of maximizing the non-oil revenues so that less ceilings oil revenues for 90%", describing the budget as "the agency accountable for the distribution expenses as a result of oil revenues."

He warned defect of "foreign exchange loans in consumer spending, which includes salaries and other economic activities without developing important strategic projects."

For his part, he stressed the Finance Committee in the House of Representatives member Haitham al-Jubouri, during the parliamentary meeting host, that "the revenues from non-oil include the departments of Customs and Real State Communications and Media Commission that it is necessary to rise and imports," noting that "the Finance Committee meeting discussed the issue of the House of Representatives and the Commission's budget higher human rights and the Supreme Judicial Council. "

In the same context, an economist Bahadli Abbas said in an interview for the "long", that "Iraq lacks statistical plans are built on the basis of which the annual budget in accordance with specific figures to prove the quantities of oil exported and the amounts derived from the sale to be on the basis of which the development of an annual budget."

He added that "successive governments for nearly ten years, failed to apply the annual budgets that devoid of the final accounts."

He explained that Bahadli "Almtsidin Authority parties policies have ignored the economic side of the country, causing multiple financial crises in Iraq could lead to bankruptcy, without a doubt."

He said the "planning to pass next year's budget without reducing 50% of the salaries of the three presidencies in addition to special grades and that the number of its members by the thousands, and convert part of the budget allocations to the development of major projects considered an act is the glory."

The Cabinet, discussed on Tuesday (August 16, 2016) for the 2017 budget of the country after the submission by the Ministry of Finance, and among the government is moving to its project of reform in all sectors, he stressed the government's success in retrenchment and the face of the financial crisis experienced by the country.

The Iraqi Council of Representatives, approved by an absolute majority, through its 45 of the first legislative term of the second legislative year, which was held in the (16 December 2015), headed by Salim al-Jubouri, and the presence of 242 deputies, in the coming 2016 budget by 105 trillion and 800 billion dinars, and the share of the Kurdistan region, of which 17 percent, despite the claim of a coalition of law reduced to 13 percent.


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