Parliamentary energy: the budget of 2018 heavily indebted and free of appointments and investment projects

12/16/2017



A member of the Committee on oil and energy parliamentary Adnan al-Janabi, Saturday, that the draft federal budget for the year 2018 was burdened with debt and free of appointments and investment projects and a clear lack of provision for the rights of the poor.

Al-Janabi said in a press statement today (December 16, 2017) that "all the figures in the budget of 2018 came disjointed and inaccurate in the offer, and there is a lack of provision of the rights of displaced people and the poor from the budget," according to the agency Nina.

He added that "the budget allocated to the security and defense sector 23 trillion dinars, and 7 trillion dinars for the electricity sector, and 3 trillion dinars for ration card, and a trillion dinars for social welfare."

"The budget is almost austerity budget free of appointments and investment projects, and its backbone is based on external loans from the World Bank and the IMF, which makes them burdened with debt."

It is worth mentioning that the House of Representatives ended its consultative session, which was held during the legislative holidays earlier this month to discuss the federal budget 2018, while the Presidency decided to refer the draft budget to the parliamentary financial committee to prepare a final version and presented in another extraordinary session.

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United Nations: recovery of the growth of the Iraqi economy after the defeat of Wahhabism

12/16/2017



Foreign investors are beginning to be attracted to doing business in Iraq as the economic situation improves and a declaration of defeat defeats Wahhabism in the country, a Financial Times report quoted international officials as saying.

"Many countries have expressed their desire for economic cooperation with Baghdad after they have declared their full victory over terrorism in the country," the report quoted UN adviser to the Iraqi economy Falah Lami as saying on Saturday.

"In recent months, many delegations and government and private companies in Europe and the United States visited Iraq," he said, referring in particular to the "recent meeting between officials of the Central Bank of Iraq and representatives of Airbus and Total, as well as the visit of the British Prime Minister and a group of companies American. "

"All this indicates the recovery of Iraq. After announcing the final victory over terrorism, many have indicated that they want to invest in various areas of the Iraqi economy. Iraq has become a lucrative and attractive place for economic cooperation," he said.

"After falling oil prices, Baghdad desperately needs foreign capital and Chinese companies are already investing in the Iraqi economy," he said.

At the end of 2016, the World Bank approved a $ 1.485 billion new aid package for Iraq aimed at boosting the country’s economy, stimulating private sector growth and supporting job creation, while the country’s 2018 budget said strict costing would help the Iraqi authorities pay part Of its debt to the International Monetary Fund.

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