Post Brought From Peoples Dinar - Stevel Comments at the end
Finance: The Financial Situation Of A Stable Iraq
8/24/2014 0:00 Proposed approval of the operating budget for 2014 with the final accounts only Baghdad Ali Muwaffaq Ahmed Abed Rabbo
has assured the Ministry of Finance citizens certainly that the financial situation in the country is witnessing a state of stability as a result of continuing to pump oil exports.
As suggested an economist approve the operating budget for 2014, with the final accounts , became the governmental institutions Mstdana of the private sector in large amounts because of the lack of legislation in the current year budget.
project financing source in the Ministry of Finance said a statement the "morning": that some ministries and government institutions agreed with the private sector companies under contracts funded projects until the adoption of the current year budget in 2014 " .
called on companies to adhere to contracts with ministries and non-stop projects the fact that the Iraqi citizens desperately need to provide services.
source added that the current year budget has paid interest in the files of energy, security and services, indicating that the benefits of financial companies exist and will be spent after approving the budget, financial situation for a stable Iraq and that the continuation of oil exports,
excluding the inability to approve the budget this year because he can not be legislation next year's budget without the approval of the budget year 2014.
also pointed out that the delay in approving the budget breakdown implementation of investment projects listed by ministries and local governments during the current year,
but some of the projects referred to in the past years ongoing and that the existence of financial allocation to them. this had already ended the House of Representatives Bdorth previous parliamentary first reading of the draft budget law for 2014,
without being able to complete the second reading of the draft because of the disruption of quorum as a result of political pressure, to leave the budget for the parliamentary session the current back to the government.
final accounts for his part, called on the Deputy Governor of the Central Bank of the previous appearance of Mohammed Saleh told the "morning" to approve the department's operational budget this year with the issuance of the final accounts have then legislation the budget year 2015,
the fact that military spending led to a reallocation of funds from the budget amounts investment to this side, and thus became the budget consumer non-investment devoted unemployment and lead to a decline in GNP.
cautioned in favor of the need to reduce consumer spending and leaving some of the projects is necessary in next year's budget in the event of continued spending on the military effort so as not to confuse would disrupts the development process.
the private sector , in turn, said the administrative agent of the Ministry of Health T-Saad for "morning": that many of the hospitals and health institutions have become Mstdana of the private sector in large amounts as a result of a failure to approve the budget so far this year,
which led to withstand managers responsible for large contract or access commitments with the private sector to walk to work in their organizations, the fact that the ministry is required to provide health services under all circumstances to save the lives of patients, calling at the same time, the House of Representatives to speed up the adoption of the budget.
pointed to the existence of problems in the exchange ratio of 1/12 set for the Ministry with Other problems in the allocation of a lump sum, as it does not give stakeholders all funding, as well as contribute to the stopped projects and new signings
What is the effect on the ministry's efforts to expand health services in areas that are lacking, warning that the ministry was deeply affected as a result of failure to approve the annual budget, which is equivalent Five percent of the country's budget which is already not enough to cover all the activities carried out by the ministry, as called several times to the allocation of 10 percent of the state budget to improve the health sector in all his joints.
Stevel: I have a few contacts over there that have indicated that some of the big companies that left Iraq and put their projects on hold due to lack of payments, are now coming back and ready to resume their work.
What they are share with me is that they have been ensured payment in coming weeks or days now and they are ready to start up again.