Ibadi unlikely to withdraw part of the cash reserve to meet the budget deficit
2009-02-26 08:56:35


BAGHDAD (Iba) ruled out .. Chairman of the Economic Committee in the House of Representatives Haidar Abadi feet the government to withdraw a part of the Alahitati cash to the Central Bank of Iraq to fill any shortfall that could face fiscal budget.


Abadi said, told the independent press (Iba) today, Thursday, to Ananaj to withdraw any amount of cash reserves available to the Central Bank during the past present and future, because this is a reserve that could be used in the economic and financial crises.


"We have a large financial surplus in the Development Fund for Iraq (DFI) in addition to the money recycled from the previous year, which could fill the part of the IBS with respect to the completion of development projects and development, indicating the presence of the efforts to find other alternatives to supplement the budget.


Abadi said the desire to benefit from the balance of the Central Bank to give bonds to the government or to promote the sale of fund balance in line with the developments and government expenditures, and called for increased spending on the sectors of industry, agriculture and the development of a pipeline to stimulate the economy during the current year.


Detection Abadi and put the Economic Commission for the construction of industrial parks and business to encourage investment and attract local and foreign investors to operate in Iraq and the establishment of projects, explaining the importance of investing in the upgrading process of economic reconstruction of the country.



The Central Bank of Iraq adviser, the appearance of Mohammed Saleh said earlier that the Iraqi government before the options to address the budget deficit in 2009, including austerity or borrowing locally or access to external loans.