Complementary Budget


12/8/2017

Thamer Hymes
The supplementary budget was born under the banners of victory over the "da'ash", in exchange for large sacrifices accompanied by a shortage of funds estimated at 4 trillion dinars, so the road becomes a project and a project to cover the deficit with a loan from the IMF or the International Bank or the Islamic Bank, and internally through treasury bonds .

But these solutions do not restore the economic and financial dynamics, leaving the fragility of the impact after the drop in oil prices, it is an extraordinary challenge that requires effort and boldness to implement reconstruction and investment.

In addition to Iraq's reserves of dollars and gold and about 75 percent of chunky cash, and public funds are closer to being frozen, we are in need of administrative orders and follow-up to become the country's economic ground to start productive work.

These orders include the issuance of the early retirement law, a reduction of the slack and saving of the amounts, and the activation of the four-year leave for the employee because it provides good money through the cancellation of many allocations, as well as the announcement of progressive taxes and all entry and justice.

The solution of the problem of losing companies and returning them to work stops the financial bleeding through partnership with the private sector or the mixed sector after the rehabilitation of the sector as experienced and successful, as well as urging all banks to finance projects of agriculture, industry and housing and pay for investment in general.

It is necessary to activate the anti-money laundering from the granting of import leave to the tax on profits and final incomes and according to the actual need for import because the role of protection is beginning to prevail concepts.

In conclusion, the supplementary budget ring alarm in line with the deficit, which can not be faced with internal or external loans, but by opening the prospects internally and encouraging the factors of the success of housing investment and ease of lending so as not to go loans of government banks to parties still stumbling in payment.

Thus, it is necessary to review in the style of the Central Bank to deal with the latest developments in the budget and the role of private banks and government to serve a specific trend that focuses on external borrowing, when it is not an investment, will restore us a more severe vulnerability to our promising economy which we hope to abort foreign loans and hope better than the Central Bank Follow-up of troubled domestic loans and announce them and resolve them.



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