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 Parliamentary Finance: lending process to fill the budget deficit "risk"

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Join date : 2011-08-09

PostSubject: Parliamentary Finance: lending process to fill the budget deficit "risk"   Thu Jan 30, 2014 8:47 am

Parliamentary Finance: lending process to fill the budget deficit “risk”

Wednesday, 29 January, 2014

29-01-2014 .. Baghdad (news) .. considered the parliamentary Finance Committee proposal lending financial

To cover the deficit in the general budget for 2014, the country’s economic risky.

The committee member said Haitham al-Jubouri (of the Agency news) today
Wednesday that the deficit recorded in each of the budget each year is not imaginary, but
Registered expected at the time and therefore any proposals for bridging the fiscal deficit must be
Have priority and importance, noting that the proposal and the Minister of Finance, which is
In good faith to save the general situation in the budget for the possibility of borrowing to pay off the deficit

Budget allocations and disbursement of the petro-dollar is a kind of risk-taking in the country’s economy

Especially at this stage.

Jubouri said that there are two types of borrowing and the two domestic borrowing and requires
Resorting to the federal government to offer securities lending to financial companies and banks
Eligibility versus the benefit of up to six percent, while the second type is borrowing
Outside, where the Iraqi government have to resort to borrowing from the IMF
International and both cases lead to the danger in the Iraqi economy because of the accumulation of
Financial debt it over time.

The Minister of Finance and serenity net debt agency announced the possibility of borrowing
Government nine trillion dinars to pay the petro-dollar funds allocated
Producing provinces, if the House of Representatives voted on it.


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