Iraq reveals its financial position

Iraq reveals its financial position
Revealed a senior government adviser to the Prime Minister, Haider Abadi, on the situation of Iraq from the financial crisis and foreign debt and loans.
The economic adviser to the Prime Minister, the appearance of Mohammed Saleh, in a press statement today, “The government was able to overcome the financial crisis and the problems of deficitand debt and external borrowing and local control.”
He explained that “Iraq exceeded its financial crisis through the financial flows to the budget of 2018 achieved by the rise in oil prices in global markets, which amounted to $ 64 per barrel,” stressing that “global oil prices are going up.”
Saleh pointed out that “the problems of 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 power to overcome the financial crisis suffocating.”
He stressed that “the implementation of some needs became more flexible than the past years by the financial flow in oil exports,” noting, “If the parliament was present, the government sent a supplementary budget includes high oil prices for approval.”
He explained that “the surplus achieved in the current budget can not be manipulated, because it is not guaranteed in the draft budget law 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 a new parliament during 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.
He pointed out that “Iraq exceeded the so-called point of parity in which the federal budget in the case of balance-free deficit after the price of oil barrel 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, the economic adviser says that “one third of Iraq’s debt is subject to the debts of Paris Club, which has not been settled,” noting that “these debts are mostly sovereign debt belonging to some of the Gulf states.”
Source: alliraqnews