***** Mohammed Saleh appeared : the delayed adoption of the budget halted investment projects

1/6/2014 0:00  

During a lecture hosted by the center of economic «morning »
BAGHDAD - morning


 Warned economic expert, Dr. appearance of Mohammed Saleh of failure to approve the budget for the year 2014 , stressing stopped all new projects in the provinces.


Came during initiation Center morning for Strategic Studies new season for the second half of the year 2014 with a lecture economic progress by Saleh and tagged with ( general budget and Challenges ) He explained the stages of establishing budgets enlightened experiences universal in this regard .


expert stressed that the budget is an important basis for the stability of the country being designed to allocate resources for development and the achievement of social justice and dedicate economic stability to Iraq .


ruled in favor of approving the budget of the current parliament , stressing the impossibility of implementation of all projects investment included in the bill.



called expert to fortify the budget from external shocks , since each budget in the world there are risks that fall in revenue makes it imperative to take precautions by finding Systems flexible within the budget itself , if what happened recession and decreased growth rates are to go to borrow from capital markets , a measure of my time is called the installer dynamic .



as regards the issue of deletion of zeros , Saleh stressed the need to adopt this step, despite being left out to achieve this in the current stage , because it is associated with the stability of the political situation in the country.


said in a statement to the representative of the "morning " Tariq al-Araji : "The deletion of zeros from the currency will contribute to raising the competencies of cash payments in the country and helps provide high- categories of cash and reduces the figures , supplied in addition to the reform process arithmetic .


  Extensive details ...


 Center initiated a "morning" for Strategic Studies new season for the second half of the year 2014 with a lecture by economic progress , an economist appearance of Dr. Mohammed Saleh and tagged with ( the general budget and the challenges ) explained the stages of establishing global budgets enlightening experiences in this regard .


The expert stressed the economic appearance of Dr. Mohammed Saleh on the basis that the budget is important for the stability of the country being designed to allocate resources for development and the achievement of social justice and economic stability to devote to Iraq .


And between the lecture and the existence of a clear difference between the budget and the budget , as the budget, an estimate of the revenues and expenditures begin in a certain period of the year and what has already been achieved by the provision of services and public goods . ,And either the budget is what has already been achieved from these budget through the implementation of the planned revenues and expenses represented the final accounts .


He explained that the services or goods of public ( government ) can not be carried out by the private sector such as construction of dams and the establishment of the army, police and other things and services that can not be any party other than the government has done in reference to the increasing role of government in the economic fabric of the new response to allegations scalable role in economic activity .


He noted that the budget is the core of the financial policy of the country which represents the sum of the means and procedures adopted by the Ministry of Finance on behalf of the government to influence public expenditures and public revenues in order to achieve three goals summed up in the allocation of resources for development and the achievement of social justice through redistribution of income segments of society properly and achieve economic stability by reducing inflation and the stability of cash income to the public .

External shocks

He stressed the importance that barricaded the budget from external shocks since each budget in the world there are risks that fall in revenues is imperative to take precautions by finding Systems flexible within the budget itself If what happened recession and decreased growth rates are to go to borrow from the money markets , a move that my time is called the installer dynamic .

Bumper financial

In Iraq's budget is adopted bumper Finance by predicting world oil prices by the unit in the International Monetary Fund cooperates with the Ministry of Finance in determining the budget on the price of a barrel of oil is less than its real- world markets, any sense that the price of default prevents the budget damage to oil price fluctuations on the budget General for Iraq .
Final accounts

Saleh called on to scrutinize the final accounts for the previous years , where an estimated 77 trillion dinars spent advances drawn without allocations , stressing at the same time the necessity of approving the budget for the current year the adoption of the final accounts for 2013 as long as they are ready and incomplete.

Types of budgets

He said there are three types of public budgets in all countries first designed on the budget deficit and the second is designed to tie ( equal to the income and expenditure ) and are designed to last a surplus which is the case in all the Gulf countries .


He continued: the budget was designed on the inability of default and end the surplus comes from the difference in price oil prices assumed the budget law for the real price in international markets and is often higher than prices assumed , indicating that helps to cover the surplus for the budget deficit lack of implementation of development projects within the plans prepared for this purpose.


He believed that the benefit of the tax system in Iraq needs to be reconsidered , stressing the importance of the adoption of a new tax system includes a large segment of the public and the amounts do not affect much less in income individuals.

National market

He pointed to the country's need for a national market helps create solutions to economic problems , pointing out that the oil commodity sovereign national must contribute to support economic activities and not be one of the reasons the complexity of the problems within the country , which requires work to create economic culture is going in this direction stems reported results working to achieve sustainable development . , and stressed the importance of the five-year plan issued by law to be binding and enforced by those in charge of the joints of the executive work in the various ministries and departments got changed in those ministries .


Pointing to the need to work to make the final accounts for government departments and ministries, all before the law was passed the general federal budget , noting that the final account is an important part of the governance budget , either lending from the budget , it is as dangerous as he is an upheaval in the transparency of the budget , according to Saleh .



Pointed out it's all in the budget , there are risks indicate by economists who are working to determine prudential measures that reduce those risks , and this is a window that is working on the budget immunized against any potential imbalances .


He warned in favor of that duplication in the financial budget being lead to the dismantling of the country's unity , pointing to the importance of adopting strategies prepared by the experts of Economy and Finance in order to avoid the difficulties which the budget of shocks in the coming years, drawing on the experiences of countries able to navigate its economy to the ranks of developed nations by economists .


And repeat the favor to say that the budget three main objectives achieved through the allocation of resources for economic development in the country as well as to achieve justice and to achieve economic stability and reducing inflation and thus fortify the operations of recession and that will reflect negatively on all aspects of social life , including the service and especially economic .






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Banking expert: central bank's measures will not lead to the stability of the exchange rate of the dinar against the dollar


AM: 11:29:01 / 06/2014


Ruled out a central bank vice governor former banking expert appearance of Mohammed Saleh, the stability of the exchange rate of the Iraqi dinar against the U.S. dollar through the central bank's measures to allow money transfer companies to buy the dollar, without the mediation of a bank.

Mohammed Saleh said in a press statement that allowing money transfer companies to buy dollar directly without the mediation of a bank will not contribute to the stability of the Iraqi dinar exchange rate, they returned him, a secondary solution, not a radical solution to raise the value of the Iraqi dinar against the U.S. dollar.

He said, that the stability of the dinar exchange rate is to meet the need of the domestic market of the U.S. dollar and the expansion of dealing him, pointing out that, the central bank believes companies entering directly instead of whipped banks reduce transaction costs, which is reflected in the exchange rate, but is not the solution, stressing, that The main solution is to meet the needs of the market of foreign currency


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