************** Parliamentary Finance reveal the government's proposal to buy the debt of the Paris Club to reduce the budget deficit

Editor Duraid Salman - Tuesday January 13, 2015 16:38


Alsumaria News / Baghdad


Parliamentary Finance Committee announced on Tuesday, the existence of orientation of Parliament for the reduction of 10 trillion dinars from the budget, confirming that the reduction does not affect the employees and pensioners and social welfare, as revealed the existence of a government proposal includes the purchase of Iraqi debt to the Paris Club by the central bank to take advantage of the benefits of debt paid by Iraq to cover the deficit.

The committee member said Masood Haider in an interview for "Alsumaria News", "The Finance Committee continues to project a discussion in a comprehensive and seeks to reduce state spending, up nearly 10 trillion dinars from the gates of the budget related to the ministries and state institutions," asserting that "cut costs does not affect the employees and pensioners and social welfare. "

He said Haider, that "the government has supported the Parliamentary orientation", noting that "the total value of the budget will be 115 trillion dinars in the event of reduction of 10 trillion of spending, which means that the deficit does not exceed 30%, or 30 trillion dinars," he said, adding that "the barrel price Oil in the budget is $ 60, while projections indicate the possibility of falling to $ 40. "

The head of the House of Representatives Salem al-Jubouri confirmed on Saturday (January 10, 2015), that the Board will take into consideration the government's orientation reduction in the budget, as pointed out that the budget discussion is nearing completion in the parliament.

It is noteworthy that the Paris Economic Club is an informal group consisting of financiers finance officials from 20 rich country economically, a financial services such as the debt owed by the states scheduling instead of bankruptcy or debt relief cut interest them, and cancel the debt of heavily indebted and its creditors states.


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