Appearance of Mohammed Saleh: Iraq's financial situation is reassuring

Appearance of Mohammed Saleh: Iraq's financial situation is reassuring

Sunday 15 September 2019

Baghdad / morning
 
Certainly, the financial situation in Iraq is reassuring and the deficits that are talked about are hypothetical, and that financial sustainability is not threatened with the presence of reserves at the Central Bank of Iraq and the government estimated at $ 87 billion, as well as a surplus ranging between $ 13-12 billion and we in the last quarter From this year.
Financial Advisor to the Prime Minister d. The appearance of Mohammed Saleh said: "The deficits in the budget hypothetical, and that the financial situation of Iraq is reassuring and does not threaten financial sustainability and under control," pointing out that "Iraq in the fourth quarter of the year and there is a surplus liquidity between 13-12 billion dollars."
 
Opening balance
He added that "the public finances act according to priorities, and that the Ministry of Finance governs control of expenses, and recognizes the important thing that must be spent," stressing that in the "2018 budget there was a surplus of 20 trillion dinars, and thus a large opening balance"
He pointed out that "the fiscal deficit that is being talked about is hypothetical and not realistic, as ministries provide many requirements are taken important and required and determines the importance of disbursement according to the financial situation," pointing to the "rationalization of spending and this comes from the imperative to control liquidity."
 
Financial sustainability
He explained that "when preparing the budget requests are very large, so the figures appear large, but at the same time not all requests are taken, but are adopted important things that do not strain the country and maintain financial sustainability."


Saleh said: "The abundance of strategic crop production and cover local demand and the federal budget provided the amount of 10 trillion dinars were allocated to import from global markets, and will rotate these funds
Within the joints of the national economy to activate the joint. "


He explained that "the reserve of the central bank along with the reserve of the government amounted to 87 billion dollars, and this is very positive gives a great resilience to the state in the most difficult circumstances."
 
Labor market
Saleh pointed to "the need to encourage the private sector to take its right role in the management of the economy, and provide tools to activate it in a way that serves all sectors, and praised the mobility witnessed in the housing sector and its impact on moving the local labor market," pointing out that "the provision of funding for the private sector makes it able To activate a lot of sectors. "
 
Economic aspect
In a press statement, MP Eng. Mohamed Sheaa Al-Sudani stressed the need to focus on legislating laws that support the non-rentier state and increase the activity of the economic side by activating the industrial, agricultural, commercial and tourism sectors. Not to rely on the rentier economy in light of fluctuating oil prices and the possibility of the emergence of alternative sources
For energy. "
Al-Sudani pointed out to the importance of activating the supervisory role of the audit and internal control departments, the bodies of the financial control bureau and the concerned departments in the ministries to prevent the risk of corruption spreading in many parts of the economy.


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Adviser to the Prime Minister: Iraq's reserves of foreign currency is estimated at 87 billion dollars

2019-09-16 | 02:19

The adviser to the Prime Minister for financial appearance Mohammed Saleh, that the reserves at the Central Bank of Iraq and the government is estimated at 87 billion dollars.
The official Sabah newspaper quoted Saleh as saying that "the reserve at the Central Bank of Iraq and the government is estimated at 87 billion dollars, as well as a surplus of between 13-12 billion dollars and we in the fourth quarter of this year," noting that "the financial situation in Iraq is reassured and the deficits that are being talked about are hypothetical. "
Saleh added that "the public finances act according to priorities, and that the Ministry of Finance governs control of expenses, and recognizes the important thing to be spent," stressing that in the "2018 budget there was a surplus of 20 trillion dinars, and thus a large opening balance."
He pointed out that "the fiscal deficit, which is being talked about hypothetical and not realistic, as ministries provide many requirements are taking into account the important and required and determines the importance of disbursement according to the financial situation," pointing to the "rationalization of spending and this comes from the imperative need to control liquidity."

The Central Bank of Iraq announced in April 2019 high foreign exchange reserves to $ 62 billion, stressing at the same time its success in controlling the level of inflation.


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