British report: The cost of war Anbar seven million dollars a day, and Iraq will be bankrupt in 2017

Wednesday, February 27, 2014 08:57



Twilight News / warned a report issued by the International Center for Development Studies, based in London, from the bankruptcy of Iraq in three years because of the budget deficit, which now threatens the Iraqi oil sector is clearly, as I have indicated that the military operations in Anbar cost per day seven million dollars.

 According to the report, the deficit exceeded $ 50 billion, Iraq would be at risk of bankruptcy in 2017. Iraq will be unable to pay the salaries of its employees. It seems that the indicators of bankruptcy looming, especially that the Iraqi government pays the salaries of its employees, including the salaries of the staff of the Kurdistan Region, in the form of monthly, which has allocated 4.5 billion dollars for the month of February, did not send the salaries of next March, because the amount available is not enough to only for one-third of the staff of Iraq.

The report pointed out that the deduction of 15% of the budget allocated to investments in oil has contributed to the reduction of Iraqi exports of 2.62 million barrels per day to 2.28 million barrels per day during the past three months, what impact clearly on state revenues and plans to increase exports to more than 3.5 million barrels During the year 2014.

The report adds, that the giant oil companies are unable to cope with the volatile environment of the Iraqi economy, threatening the withdrawal of it. In addition to the security factor factor highlights the financial and administrative corruption, bureaucracy and a lack of experience and the need for Iraq to infrastructure and the training of 70 thousand workers in the oil sector to reach the desired goals.

The report refers to the abolition of the company "BP" contracts to dozens of foreign contractors of the South Rumaila, and threatened to withdraw from the Eni Zubair field in Basra because of bureaucratic red tape that delayed the signing of a contract for six months.



The cost of war Anbar seven million dollars a day

It seems that the budget deficit Iraq has contributed to weakening the state's ability to establish security, being engaged in a war in Anbar cost the Iraqi economy worth seven million dollars a day, which is exhausting burden the budget and affect the state's ability to carry their burden other in the defense of the rest of Iraq.

The report of the International Center for Development Studies to be real deficit in the Iraqi budget has risen today to 32 billion dollars in the absence of an agreement between Baghdad and Erbil on oil exports, and the adoption of five dollars in compensation to each province oil producer, and the adoption of laws that do not fit and Iraq's ability to carry its burden of financial .

The budget deficit is not justified

In the opinion of the International Center for Development Studies that the deficit is not justified, the fact that the budget has been prepared on the basis of price of $ 90 a barrel, while the price of oil did not say for $ 100, meaning that the budget must achieve a large surplus, especially that the completion rates in most Iraqi provinces did not exceed 40%, and in some of them was zero.

In addition, the amounts retained from previous budgets, up to the year 2012 was more than 50 billion dollars, raising questions about the real reason to talk about the deficit, if not a new attempt aimed at the theft of public money and convert to the benefits of the personal gain of senior officials in the state.

Nouveaux riches

The report of the International Center for Development Studies that financial and administrative corruption in Iraq has led to the emergence of a new class of rich and new entrepreneurs affiliated with the Iraqi government, and who came to get rich quickly, prompting the emergence of a market for luxury goods in Iraq, most notably the private aircraft that could reach their prices to $ 16 million, while a third of the Iraqi people live under the poverty line.

And pay the order of the Ministry of Transport to issue checks for the purchase of these aircraft, which means that the volume of applications submitted necessitated the issuance of such instructions.

The report expressed surprise at the able economist and adviser to the Iraqi government from the preparation of budgets since 2004, in the absence of clear in the closing accounts that show real spending its resources, and allows control commands exchange, indicating clearly on the fears of disclosure, and deliberately hide for fear of detection of corruption financial and administrative large suffers from Iraq years ago.


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