The economic and financial adviser to Prime Minister Haider al-Abbadi said that the federal government has managed to overcome its financial crisis and the problems of deficit, debt and external and local borrowing are under control.
"The price of a barrel was set at 46 in the federal budget and the increase in oil prices will be considered a surplus in the budget for the purpose of repaying deficits that occurred in the past years," said Dr. Hamam Radhi al-Shamma, an expert on economic affairs during an exclusive interview with PUKmedia. "There is an internal debt and a budget deficit of more than 110 billion dollars," he said. "If the financial crisis, if any, or a shortage of financial resources, this year will continue, hoping to approve the next budget with oil prices better than the current price."
He added that the current price will cause a surplus in the budget to repay the internal debt and external debt that may exhaust Iraq in the future, so this opportunity must be exploited by the government to get out of the financial crisis, pointing out that according to agreements with external entities represented by the International Monetary Fund and the World Bank There are agreements, and according to the agreements will be the repayment of debt, but the internal debt is also in the things that the state should pay them reflected negatively on the financial situation if not offset the debt.
The appearance of Mohammed Saleh, economic and financial adviser to the federal Prime Minister Haider Abadi, said Tuesday: that the government was able to overcome the financial crisis and became problems of deficit and debt and external and local borrowing under control.
Saleh said in a press statement by PUKmedia: Iraq has exceeded its financial crisis through the financial flows to the budget of 2018 achieved by the rise in oil prices in world markets, which amounted to $ 64 per barrel, "asserting that global oil prices are going up, Al Mada Newspaper.
Saleh pointed out that the problems of the deficit, borrowing and borrowing have become the past because of high oil prices, pointing out that "the situation has become more comfortable compared to the past months, which gave the government the strength to overcome its financial crisis suffocating."
Saleh stressed that the implementation of some needs has become more flexible than the past years by the financial flow in the oil exports, "noting:" If the parliament exists, the government sent a supplementary budget includes high oil prices for approval.
He pointed out that the surplus achieved in the current budget can not be manipulated, because it is not guaranteed in the budget bill and will be recycled in the next budget on the grounds that the parliament ended its current session can not send a supplementary budget for approval.
The financial adviser said that in the event of the new parliament in the next two months could be sent the supplementary budget law for approval so that the new government to spend money on some projects due and stalled.
"It is not possible to talk about the figures of this surplus and the surplus achieved in this year's budget until after the end of the current fiscal year," Saleh said, adding that Iraq had exceeded the so-called " In which the federal budget in the case of balance free of deficit after the price of a barrel of oil to more than $ 60, stressing that "the financial abundance achieved in the past year.
He added that "there are funds owed to the Iraqi government as salaries to employees and retirees and social welfare and the payment of debt and investment project expenses amounting to a monthly to seven or six trillion dinars," stressing that "these amounts will be cut from the monthly oil sales of up to 9 trillion," noting that The remainder of these amounts will be carried over to the coming months.
As for the debts of the Iraqi government, says the economic adviser: One-third of Iraq's debt is subject to the debt of Paris Club, which has not been settled, noting that these debts are mostly sovereign debt belonging to some of the Gulf states.
The economic expert, Dr. Hammam al-Shamma, pointed out that there is no real crisis on the ground, noting that the financial crisis means the delay in the payment of financial obligations in the budget, stressing the absence of any maltreatment in the financial commitments, salaries and social welfare and allocations of displaced persons, : We can not talk about a financial crisis, but we must talk about the scarcity of financial resources in the coverage of the requirements of society, pointing out the existence of millions of unemployed and hungry and living below the poverty line, but if talking about the budget in the legal sense there is no financial crisis not The budget is implemented normally and naturally.
The parliamentary finance committee, revealed last year that the volume of Iraq's internal and external loans amounted to 123 billion dollars, criticizing the policy of borrowing by the government, and called for austerity policy.
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"The price of a barrel was set at 46 in the federal budget and the increase in oil prices will be considered a surplus in the budget for the purpose of repaying deficits that occurred in the past years," said Dr. Hamam Radhi al-Shamma, an expert on economic affairs during an exclusive interview with PUKmedia. "There is an internal debt and a budget deficit of more than 110 billion dollars," he said. "If the financial crisis, if any, or a shortage of financial resources, this year will continue, hoping to approve the next budget with oil prices better than the current price."
He added that the current price will cause a surplus in the budget to repay the internal debt and external debt that may exhaust Iraq in the future, so this opportunity must be exploited by the government to get out of the financial crisis, pointing out that according to agreements with external entities represented by the International Monetary Fund and the World Bank There are agreements, and according to the agreements will be the repayment of debt, but the internal debt is also in the things that the state should pay them reflected negatively on the financial situation if not offset the debt.
The appearance of Mohammed Saleh, economic and financial adviser to the federal Prime Minister Haider Abadi, said Tuesday: that the government was able to overcome the financial crisis and became problems of deficit and debt and external and local borrowing under control.
Saleh said in a press statement by PUKmedia: Iraq has exceeded its financial crisis through the financial flows to the budget of 2018 achieved by the rise in oil prices in world markets, which amounted to $ 64 per barrel, "asserting that global oil prices are going up, Al Mada Newspaper.
Saleh pointed out that the problems of the deficit, borrowing and borrowing have become the past because of high oil prices, pointing out that "the situation has become more comfortable compared to the past months, which gave the government the strength to overcome its financial crisis suffocating."
Saleh stressed that the implementation of some needs has become more flexible than the past years by the financial flow in the oil exports, "noting:" If the parliament exists, the government sent a supplementary budget includes high oil prices for approval.
He pointed out that the surplus achieved in the current budget can not be manipulated, because it is not guaranteed in the budget bill and will be recycled in the next budget on the grounds that the parliament ended its current session can not send a supplementary budget for approval.
The financial adviser said that in the event of the new parliament in the next two months could be sent the supplementary budget law for approval so that the new government to spend money on some projects due and stalled.
"It is not possible to talk about the figures of this surplus and the surplus achieved in this year's budget until after the end of the current fiscal year," Saleh said, adding that Iraq had exceeded the so-called " In which the federal budget in the case of balance free of deficit after the price of a barrel of oil to more than $ 60, stressing that "the financial abundance achieved in the past year.
He added that "there are funds owed to the Iraqi government as salaries to employees and retirees and social welfare and the payment of debt and investment project expenses amounting to a monthly to seven or six trillion dinars," stressing that "these amounts will be cut from the monthly oil sales of up to 9 trillion," noting that The remainder of these amounts will be carried over to the coming months.
As for the debts of the Iraqi government, says the economic adviser: One-third of Iraq's debt is subject to the debt of Paris Club, which has not been settled, noting that these debts are mostly sovereign debt belonging to some of the Gulf states.
The economic expert, Dr. Hammam al-Shamma, pointed out that there is no real crisis on the ground, noting that the financial crisis means the delay in the payment of financial obligations in the budget, stressing the absence of any maltreatment in the financial commitments, salaries and social welfare and allocations of displaced persons, : We can not talk about a financial crisis, but we must talk about the scarcity of financial resources in the coverage of the requirements of society, pointing out the existence of millions of unemployed and hungry and living below the poverty line, but if talking about the budget in the legal sense there is no financial crisis not The budget is implemented normally and naturally.
The parliamentary finance committee, revealed last year that the volume of Iraq's internal and external loans amounted to 123 billion dollars, criticizing the policy of borrowing by the government, and called for austerity policy.
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