Parliament is likely to reduce the budget of about 59 trillion dinars

[k98nights]

Investment in capital projects photographed (Mahmoud Raouf)

Parliament is likely to reduce the budget of about 59 trillion dinars and an expert suggested reducing the salaries of "adult" and absorb the unemployed private sector

2014-10-22

Range press/Baghdad

Maybe a member of the parliamentary Finance Committee on Wednesday, reducing the budget by 59 trillion dinars, and called on the Government to austerity and reduced unnecessary expenditures, while an economist suggested reducing the salaries of the upper State, stimulate the private sector to be able to create new jobs to absorb the unemployed instead of relying entirely on the State in this area.

It predicted the parliamentary Finance Committee, Member Amin Bakr, reduce the public budget for 2014 the current reality of 59 trillion dinars, from previous estimates, calling on the Government to reduce unnecessary expenditures, excluding prejudice to staff salaries.

He said Bakr, told the (range press), "the security situation and lower oil prices and reduced revenues for Iraq more than financial projections made in the budget for the Government's evaluation of the need" to reduce expenditure through austerity policy and the reduction of unnecessary things, especially in the operating budget. "

Attorney, predicted that "the Government to reduce jobs to 2014 or cancellation and reduction of government expenditures and allocations of the additional staff and their delegations", excluding "the downsizing includes staff salaries".

He is a member of the Finance Committee, that "the size of the budget would be reduced from 180 to 120 trillion dinars, i.e. a difference of $ 59 trillion dinars," Noting that "balancing the security ministries will increase about 20 trillion dinars and not covered by shrink."

His return is a beautiful name Economist Antoine, the austerity policy is "a healthy measure of the current crisis, and called for a reduction of the salaries of the upper State, stimulate the private sector to be able to create new jobs to absorb the unemployed instead of relying entirely on the State in this area.

Antoine said, speaking to the (long press), "the decline of world oil prices has reduced Iraq to finance imports 95 percent dependent on oil," likely "continue to lower world oil prices up to $ 75."

Economist, explained that Iraq's oil exports decline "and increased military expenditures, because the fight against terrorism and the arming of the army, and the armed forces and the popular crowd and displaced, relief expenses led to a very significant increase in expenditure under the austerity-oriented", returned the "austerity is a valid response to the current crisis in the country."

Called Antoine, to adjust consumption expenditures and reduce the salaries of the upper classes in the State until the demise of the emergency circumstances ", stressing that" growth will drop to 3 percent because of the increase in consumer expenditures ".

The Economist predicted a reduction in the number of jobs ", demanding the need" to find an alternative to absorb the unemployed by providing new employment opportunities through private sector. "

He was Prime Minister, Haidar Al-Abadi, revealed, (20 October 2014 current), told a press conference after talks with top Shiite religious authority, Ali al-Sistani, in Najaf, and attended by, on the budget issue, Cabinet debate three times, and that the Council will prepare a budget which makes military spending as a matter of fact, the budget 2015, based on the current year's budget for 2014, because of the same problems, of Kirkuk crude, full stop, as well as lower world prices and expectations concerning falling over, so that the Council of Ministers The austerity.

The federal budget for 2014, from the current "major" mines, left over from the previous Government headed by Nouri al-Maliki, to new, Haidar Al-Abadi, as are chronic "obstacles" between the Federal Government and Kurdistan.

http://www.almadapress.com/ar/news/38627/برلماني-يرجح-تقليص-الموازنة-بنحو-59

[SnowGlobe7]

I hope they can get it sorted out...looks like they are working on it....what are your thoughts K98 on how successful this 2014 budget will be and what do you think is the status for the 2015 budget?