Zebari: The ministry will provide financial data on disbursements and urgent advance to Kurdistan


Thursday, October 30, 2014 19:17

Zebari: The ministry will provide financial data on disbursements and urgent advance to Kurdistan

BAGHDAD / Baghdadi News … Finance Minister Hoshyar Zebari, on Thursday, said the ministry will provide financial data on disbursements after difficulty approving 2014 budget during the next few days, pointing out that the lack in oil revenues due to lower prices.

Zebari said in a statement to Parliament received / Baghdadi News / “The ministry will provide financial data on disbursements as a result of the difficulty of presenting the 2014 budget,” pointing to “the importance of the existence of political processors for some aspects related to the budget and the lack of any intention by the government or the Ministry of Finance PMS staff salaries “revealing” the existence of a real crisis in the financial liquidity but to call an end to bankruptcy in the presence of about 77 billion dollars in the fiscal reserve of the Central Bank has not been touched. “

“The Ministry of Finance is moving toward firing allocated to the provinces of Nineveh, Kirkuk and Diyala and Anbar money during the next phase,” stressing

“The absence of any financial costs Awaaaba to do raids coalition forces to fight terrorism in Iraq.”

“The ministry is working on the launch of a financial boost to the Kurdistan region soon for the disbursement of employees’ salaries,” he said, adding “there are several proposals, including the agreement with the central bank to cut the reserve law to 7 instead of 15% and a Trade Bank of Iraq to grant the Ministry of Finance loan of $ 3 billion and the issuance of securities, which means that the fiscal deficit estimated at only 5 trillion dinars. “

He said Zebari, according to the statement, “the ministry revised budget estimates by including all government decisions on the release of funds by 1 to 12, in addition to included the powers to launch exchange advances to the face of terrorism and all the needs associated with this subject,” explaining that “the expenditure amounted to 185 trillion dinars and ongoing expenses 103 trillion dinars and investment expenditure 82 trillion dinars, while the revenue amounted to 105 trillion dinars and oil revenues of 96 trillion dinars and non-oil and 9 trillion dinars planned deficit amounted to 79 trillion dinars and after reduction amounted to 77 trillion and after discount ranging between 39-36 trillion dinars. “

And went Zebari, saying that “the Council of Ministers formed a new committee this month to re-define the priorities required, leading to deficit reduction and rationalization of expenditure to below what can be the purpose of financing the planned deficit, where we were able to be reduced to about 27 trillion”, alluding to “the existence of a lack of crude oil revenues Source due to lower prices and production difficulties the security conditions. “

Zebari stressed according to the statement that “the committee recommended funding deficit through the Special Drawing from the International Monetary Fund as well as the issuance of treasury transfers to the pension fund and the bank Rafidain and Rasheed,” noting that “the amount of required deficit financing 21 trillion dinars, which Maittalb adoption of new styles, including the imposition of taxes on some luxury goods or communications. “

He concluded his speech by saying that Zebari “pull observed from the Development Fund for Iraq reserves during 2012 and 2013 affected economically and consequent financial commitments to a number of decisions and laws on compensation and the ration card and electrical projects.”

The head of the parliamentary finance committee Magda Tamimi confirmed the absence of this year’s budget, revealing turn this budget to the budget of expenses .anthy 21 / j

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