Officials and experts, economists, Wednesday confirmed that the fiscal deficit in the budget year 2017 will increase $ 4 billion, indicating that the government is seeking to amend the price of a barrel of oil in the supplementary budget for the current year.
The Iraqi government has sent the supplementary budget for 2017 to the House of Representatives, which was able to read initially last week. The head of the Finance Committee in the House of Representatives, Mohammed Halbusi, during the parliament session vassal “Economy News”, “The government has decided to pay 40% of the peasant dues of 1.6 trillion dinars and contractors amounting to 2.6 trillion dinars in the supplementary budget.”
Meanwhile, the Parliamentary Finance Committee member Massoud Haider said in an exclusive interview for “Economy News”, “the supplementary budget for the year 2017, will go in the next parliament sessions for discussion and approval, because it is a partial solution to the economic crisis.”
He added that “the supplementary budget will produce an increase in the general budget of about 7 trillion dinars, which will increase the rate of spending, as well as increased federal state revenues from 79 to 83 trillion dinars,” noting that “the fiscal deficit of the budget of 2017 will rise from 21 to 25 billion dollars, “pointing out that” the Iraqi government demanding the lifting of the price of a barrel of oil in the supplementary budget to $ 44.4 after the price was $ 42. “
Rustam noted that “the supplementary budget includes allocation of 3 trillion dinars for the expenses of Alastmarah as well as the allocation of amounts paid to contractors and farmers as part of their dues.”
The supplementary budget includes opening the doors of appointment in the interior, defense and health ministries, in addition to the allocation of funds for the investment budget.
On the other hand, he confirmed a member of the parliamentary Economic Committee, Harith al-Harthy, for “Economy News”, that “the supplementary budget represents organized a deliberate economic situation by specialists in the Ministry of Finance,” stressing that “this budget will fill a lot of needs.”
He noted that “the Economic Committee will cooperate with the financial to put the budget in the parliament,” pointing out that “the supplementary budget includes opening the doors of appointment in the interior, defense and health ministries.”
In turn, the economist said Amer jeweler, for “economy News”, “all the previous budgets did not reflect positively on the economic reality of Iraq, but it will lead to increased exchange with dispersing the money.”
He added that “the supplementary budget does not represent a radical solution, but the solution lies in improving the management style of public money.”