************ 30 trillion dinars bank deposits ready to invest

1/12/2015 0:00

Three proposals to address the budget deficit in the forefront:


 BAGHDAD - thank Fatlawi



Select the number of experts three proposals to address the projected shortfall in the budget in the forefront of the investment bank deposits amounting to 30 trillion dinars through selling bonds and government to reconsider calculates the cost of purchase and sale of the ration card items and work to increase non-oil revenues.

This came during a seminar discussed ways to cope with the economic crisis faced by the country, organized by the Iraqi Institute for Economic Reform and attended the "morning"

Bank deposits

The economist said Dr. Kamal Al-Basri "morning" on the sidelines of the seminar that bank deposits amounting to more than 30 trillion dinars can utilize them in the face of the projected deficit, which ranges from 6/4 to 6/9 trillion dinars through funded through the sale of bonds that Aovernmah.oadav the size of public spending is determined by operational spending planned for 2014 of 98 trillion dinars, pointing out that the amount Negotiable pressure up to 5 percent on the imposition of that investment expenditure is frozen, he said.





Fees and taxes

Visual and alerted to the need for the collection of fees and taxes efficiently and advancement of the existing industries that are not efficient in the moment and not enough revenue to meet the production which calls for urgent intervention to promote them and to take advantage of the effect involves costs.

He pointed out the importance of applying the vocabulary of good governance and benefit from this experience in the coming days if the high GDP growth rate and increase oil production, which is supposed to be offset by growth in the production of goods and services even Egged same country in the fiscal deficit is difficult funding as a result of a narrow size of economic activities and lack of diversity.



Ration card

 For his part, suggested economist harmful Sbahi in his "morning" to reconsider amounts ration card and calculating the costs of its citizens when buying directly from local markets.

 He said Sepahe After studying a number of scenarios and choose the finest brands and high prices turned out to be the difference between financial allocations in the federal budget and the ration card value when purchased from local markets and the price of a single-year 2013 (2171 billion dinars, pointing out that the allocation of the budget exceeds the market price at $ 2171 billion dinars), pointing to the importance of increasing the efficiency of the use of financial resources and rationalize.

For his part warned economist Dr. Zuhair al-Hassani to the importance of the study of international experiences and take the lesson of them as an experiment Malaysia, Singapore and South Korea as countries started from scratch and was suffering stagnation and deflation in their economies afterthought it worked on the psychological motivation and dynamic in the reform and construction and change even though they have an asset of Iraq of the bounties and capabilities. Participants at the end of the seminar concluded the need to adopt these proposals as recommendations help address important aspects of the general budget for 2015

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