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A former official at the Central: No need to fear much of the fiscal deficit and internal borrowing alternative external debt


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Investment projects in the capital Baghdad Imaging (Mahmoud Raouf)

 

Author: BS 
Editor: BS 10.31.2014 19:08 Number of Views: 49 

 

 

Long-Presse / Baghdad

A former official at the central bank says that Iraq is in crisis "temporary liquidity", following the increase in the expenses of military operations and crisis of displaced persons and the drop in oil prices, which are expected to stabilize at Al80dolar. In what was believed that the time had come for the government to launch a campaign "economic change" before lifting the restrictions of the private sector.

It is assumed the former official said that the crisis can be avoided by rearranging spending priorities, and the development of measures "sound" to the collection of duties and taxes diluted manner do not affect on the shoulders of the citizen, and the expansion of domestic borrowing door firing bonds and patient involvement in external debt because they carry a large burden on the country.

The chairman of the government, "Haider al-Abadi," recently, about his government had discussed the issue of the federal budget for 2014 to three times, and will provide a cash budget to the House of Representatives, representing the amounts disbursed by the government since the beginning of this year, with military spending, "pointing out that" 2015 budget will be based on the current year's budget, because the current problems will continue in the coming year, where oil wells stopped the province of Kirkuk, as well as lower prices of a barrel of oil dramatically to below $ 90 per barrel. "

Abadi added that "the Council of Ministers decided to follow the policy of austerity in unnecessary expenses, and we will continue with this policy, because we can not confine our military effort, salaries and basic services to citizens.

The total revenue and expenditure for the seven months the first of its features the year in the last era of Nuri al-Maliki found that Iraq spent all amounts derived from the export of oil, even though he did not pay the Kurdistan dues nor the amounts allocated to Basra petrodollars, nor most of the financial obligations of the provinces which fell to Daash.

In the meantime, says the former deputy of the Central Bank the appearance of Mohammed Saleh told the "term" that "Iraq passed in exceptional circumstances during the last ten months, and increased expenses due to the war on the organization of the Islamic state, and the circumstances that accompanied the fall of a number of provinces, however, the organization, in addition to the the problem of the displaced, "he said, adding that these events have led to" withdraw cash "available to the government.

He said the former official that the current liquidity crisis is "temporary", but accompanied by the problem of the low price of a barrel of oil to nearly 25% from the previous price, pointing out that Iraq is in front of the problem of high costs and falling oil prices, which constitute 95% of the country's budget was left in front of the financial management However, a review of the "engineering expenses."

He says Saleh, said that "there are expenses and regulations and decisions of the financial burdens that can be deferred," adding, "It is time to rationalize expenses and put him to the rudiments expenses such as the fight against terrorism and the displaced and the salaries of the staff and the necessary needs of the citizens, in line with the difficult conditions experienced by the country."

The former official at the Central Bank believes that the cash could end with "austerity disbursements" and increase revenue, such as taxes and fees imposed in does not affect the citizen and the cost of economic life, through the organization of sources and outlets of financial achievement and according to the plans studied and "Maps Collection," which the world followed , such as taking a thousand dinars on every government treatment, "but they are very low sums totaling would be great," he said, adding that the government can activate the private sector, which is the biggest money savers.

He says Saleh, said that "the state and its institutions that the climate allows through which the private sector can arise spend his money in the field of investment and development and give full opportunity to take the role," noting that the latter sector living conditions "inherited" from the restriction and pressure affect the freedom of action. It also asserts that "the government program" which pointed to the adoption of appropriate mechanisms for the transition to a market economy can be a guarantor to dissolve a lot of financial dilemmas, pointing to the possibility of borrowing from the market, "internal borrowing" by exporting bonds.

But contrast warns of global "external borrowing" debt, because he holds damage big burden, so you must wait before entering into this field, also calls for the government to start a big reform campaign and "change" in the economic field to lift obtrusive investment laws and legislation again to accelerate engagement the private sector.

Oil prices have tumbled about 25 percent since June, and overshadowed by a significant increase in higher shale oil production quality of the North American on-demand at a time of stagnant economic growth, analysts say oversupply may continue Snoat.fima former official at the central bank is expected to stabilize the price of a barrel of oil to $ 80, while he had predicted, and the former Minister of Oil, "Ibrahim Bahr al-Ulum," The decline in oil prices to $ 70.

 

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A former official at the Central: you do not need much to fear from the fiscal deficit
 

BAGHDAD / obelisk: a former official at the central bank says that Iraq is passing through a crisis "temporary liquidity", following an increase in expenses of military operations and the displacement crisis and low oil prices, which is expected to stabilize at Al80dolara.

 

In what was believed that the time had come to launch a government campaign of "economic change" before lifting the restrictions of the private sector.

 

The former official is assumed that the crisis can be avoided by rearranging spending priorities, and the development of "sound" for the collection of fees and taxes diluted way measures do not affect the shoulders of the citizen, and the expansion of domestic borrowing door firing bonds and patient involvement in external debt because they carry a large burden on the country.

 

The chairman of the government, "Haider al-Abadi," recently, that his government had discussed the issue of the federal budget for 2014 to three times, and will provide a cash budget to the House of Representatives, representing the amounts disbursed by the government since the beginning of this year, with military spending, "pointing out that" 2015 budget will be based on the current year's budget, because the current problems will continue in the coming year, the province of Kirkuk, where oil wells stopped, as well as lower prices for a barrel of oil dramatically to below $ 90 per barrel. "

 

Abadi added that "the Council of Ministers decided to follow the policy of austerity in unnecessary expenses, and we will continue with this policy, because we can not confine the military effort and salaries and basic services to citizens.

 

The total revenue and expenditure for the first seven months of the year features the in another era Nuri al-Maliki found that Iraq spent all amounts derived from the export of oil, even though he did not pay the Kurdistan dues nor the amounts allocated to Basra petrodollars, nor most of the financial obligations of the provinces which fell to Daash.

 

In the meantime, says the former deputy of the Central Bank the appearance of Mohammed Saleh told the "term" that "Iraq passed in exceptional circumstances during the last ten months, and increased expenses due to the war on the organization of the Islamic state, and the circumstances that accompanied the fall of a number of provinces, however, the organization, in addition to the problem of the displaced, "he said, adding that these events have led to" withdraw cash "available to the government.

 

The former official promised that the current liquidity crisis is "temporary", but accompanied by the problem of the low price of a barrel of oil to nearly 25% from the previous price, pointing out that Iraq is in front of the problem of high costs and falling oil prices, which constitute 95% of the country's budget was left in front of the Financial Management However reconsider the "engineering expenses."

 

He says Saleh said that "there are expenses and regulations and decisions of the financial burdens that can be deferred," adding, "It is time to rationalize expenses and put him to the priorities of expenses such as counter-terrorism and the displaced and the salaries of the staff and the necessary needs of the citizens, in line with the difficult conditions experienced by the country."

 

The former official at the central bank believes that the cash could end with "austerity disbursements" and increase revenue, such as taxes and fees imposed in does not affect the citizen and the cost of economic life, through the organization of sources and outlets of financial achievement and according to the plans studied and "Maps Collection," which the world followed , such as taking a thousand dinars on every government treatment, "but they are very low sums totaling would be great," he said, adding that the government can play to activate the private sector, which is the biggest money savers.

 

He says Saleh said that "the state and its institutions that climate allows through which the private sector to spend his money in the field of investment and development and give full opportunity to take the role arise," noting that the last sector living conditions "inherited" from the restriction and pressure Tatherfa freedom of action.

 

It also asserts that "the government program" which pointed to the adoption of the shift to a market economy appropriate mechanisms can be insufficient to dissolve a lot of financial dilemmas, referring to the possibility of borrowing from the market, "internal borrowing" by exporting bonds.

 

But contrast warns of global "external borrowing debt", because it carries damage and large burdens, so you must wait before entering into this field, also calls on the government to begin a major reform and "change" in the economic field to lift obtrusive investment laws and other legislation to speed up the involvement of campaign the private sector.

 

Oil prices have tumbled about 25 percent since June, and overshadowed by a significant increase in high-quality shale oil production from North America to demand at a time of stagnant economic growth, analysts say, an oversupply may continue for years.

 

As a former official at the central bank is expected to stabilize the price of a barrel of oil to $ 80, while he had predicted, and the former Minister of Oil, "Ibrahim Bahr al-Ulum that" oil prices back down to $ 70.

 

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Do you think we are going to get a $3.33 rate LGD?

Common sense says 10cents to 25cents, then float from there.

But yes, my heart tells me that they could RI at $3.22 with a little increase in the

rate to $3.33. Just something I thought I heard Shabbs say once.

PRAY FOR REVIVAL EVERYDAY

another day closer

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Wow

Shabs said 3.33 that's great news

For starters, lib, if you're gonna quote me then do it correctly or don't respond

to my post.

I never said Shabbs said $3.33.

I insinuated that my heart felt opinion was based on something I watched him

say in a video.

Don't remember the exact quote but when asked about the increase in the value

of the dinar. He made a comment about creating a lot of"PROPAGANDA" which he

corrected himself to mean, "education", of the people. Then he said something about

removing the zeros followed by a LITTLE INCREASE in the value.

Not exactly calling for a RI but it was the reason for my heart felt opinion.

I do have the right to a heart felt opinion? Without being belittled for it? ???

Or could it simply be my strong spiritual beliefs are the real motivator behind your

recent stalking? I know how long you've been around and therefore you should

understand that you're NEVER going to chase me off.

PRAY FOR REVIVAL EVERYDAY

another day closer

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Why would I want to chase you off?

I just don't remember him ever saying that but you do

sort of

Not sure what lib means but I'm sure it's nice

As far as stalking goes you are Wrong

You give yourself way to much credit to think

I would waste my time on stalking pumper using the ruse of God

By the way he is always watching

Thou shall not want!

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It's "Bumper Time" y'all...play nice or we will have ta make you each buy a round for the house...and believe me...post RV...it's gonna be a big house!!! Lol!!! Love ya's both!!! ;o)

As for my guesstimate...I'm with LGD...I know there have been plenty of comments about returning the Dinar back to highest rate in the M.E., that, and let's just say a little birds told me so! :)

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It's "Bumper Time" y'all...play nice or we will have ta make you each buy a round for the house...and believe me...post RV...it's gonna be a big house!!! Lol!!! Love ya's both!!! ;o)

As for my guesstimate...I'm with LGD...I know there have been plenty of comments about returning the Dinar back to highest rate in the M.E., that, and let's just say a little birds told me so! :)

LOL

I'm always nice. Just ask Caye, he wubs me whole bunches.

And S.D. seriously after all these years you still think I'm a phony Christian?

Come on. I wouldn't waste that much time on something I didn't truly believe.

PRAY FOR REVIVAL EVERYDAY

another day closer

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I know bro... Just sayin' that folks...away from a forum like this, if they would be shoulder to shoulder in some day to day activity would probably get along for the most part just fine. I have several liberal friends...we can talk about life, gardening, kids, etc...we just try not to talk politics or religion. That doesn't keep me from loving them however...and I'm always surprised how God comes up when they get in some form of crisis...and I'm convinced it's because I don't preach to them I just "try" to model a life after Christ...but honestly...I'm no saint myself...just a guy in need of Savior! ;o)

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I know bro... Just sayin' that folks...away from a forum like this, if they would be shoulder to shoulder in some day to day activity would probably get along for the most part just fine. I have several liberal friends...we can talk about life, gardening, kids, etc...we just try not to talk politics or religion. That doesn't keep me from loving them however...and I'm always surprised how God comes up when they get in some form of crisis...and I'm convinced it's because I don't preach to them I just "try" to model a life after Christ...but honestly...I'm no saint myself...just a guy in need of Savior! ;o)

Very well put Rodandstaff.

And I get it! He was calling me a liberal.  LOL now that is truly funny.  Farthest thing from being right but being conservative does not mean religious.

There is also being a fiscal conservative.

 

Lady Grace's Daddy,  I offer my handshake and apology.  Rod N Staff is right. I'm No saint myself and have flaws like all of us do.

I'll do my best to keep my opinions to myself

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Great Job Guys.....agree to disagree, and moving on, with handshakes, and all!!! :bravo:

 

I respect both of you "a bunch", and it is really awesome, that you can work out the differences!  You don't have to agree on everything, to have respect of each other.  This is a crazy investment, and there are so many different directions it can go, that nobody really knows, but we all have opinions, on what is going to happen, or not happen, that nobody is actually wrong.  Good, bad, or indifferent, I am in this to the end.  Scary as it sounds, Okie could actually be right someday!  Looking forward to meeting you all someday, at the RV party!!!

 

Go RV or RI Soon!!!

:twothumbs:

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Very well put Rodandstaff.

And I get it! He was calling me a liberal.  LOL now that is truly funny.  Farthest thing from being right but being conservative does not mean religious.

There is also being a fiscal conservative.

 

Lady Grace's Daddy,  I offer my handshake and apology.  Rod N Staff is right. I'm No saint myself and have flaws like all of us do.

I'll do my best to keep my opinions to myself

And your point is right. It's a mistake to automatically equate conservative with

Christian.I try every day to be a better Christian, but I sometimes intentionally say

things that I shouldn't. One because I am human and two because I just can't

stand people who pretend to be perfect. I'm certainly not perfect and I absolutely

Don't want people to expect me to be or think I believe I am.

Heck, I'm just a truck driver. LOL it's all good, Love ya bro.

PRAY FOR REVIVAL EVERYDAY

another day closer

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