Iraqi Parliament: Bonds to be issued by the Government not to close the budget deficit
بغد BAGHDAD - Al Sabah
ق. A member of the Finance Committee Sami Atrushi bonds to be issued by the Government not to close the deficit in the budget. و 2009. He said in a newspaper by the Financial Management Act No. 95 of 2004 of the Government's right to issue bonds to meet the disabled in any budget, but the actual fact that the billions that have been added, whether the tune of one hundred and four contracts for electricity and 600 million dollars for water projects, trains and railways, these did not include within the general budget of the State in 2009.
. He was given to the need of government to the amounts of such bonds will be issued for a period of one year interest rate of 2%, but "What we object in the Finance Committee in the House of Representatives and put a special article in the budget law is not entitled to the issuance of government bonds after the stock only refer to the House of Representatives is the fear of the cash reserve held by the Central Bank of Iraq.
و
. He said when we spoke with the Central Bank of Iraq on these bonds, the central bank is satisfied with the government after the debate that she would issue a bond or bonds to buy banks in the State and the Central Bank is not any (secondary market), where the central bank is not entitled by law to buy from the government any bonds, but the right to market the second bank to buy the bonds as it has a cash reserve for the so-called legal reserve that the banks with the CBE, and in this reserve have enough to buy the bonds because of the urgent need for the government.
2006. Atrushi and that these contracts and the Ministry of Electricity has already been contracted with the companies belonging to the electricity crisis and the Citizen Finance Committee is satisfied that the agreement with the Central Bank approval of the issuance of these bonds have been presented to the House of Representatives with a report of the Finance Committee says, "The payment of these bonds will not affect in any way on the reserve of the Central Bank, and the other the fact that such bonds will be sold to the government and the Iraqi dinar, but the banks and the central bank would buy the bonds in dollars, not Iraqi dinars, and this will not affect inflation in the fact that the Central Bank of Iraq has recently taken over the sale of the dollar against the dollar and thus kept the price of the Iraqi dinar. He pointed out that Iraq is facing the problem called the (economic rent), or the adoption of Iraq's imports of oil, but the sum of resources and added to the state budget, I would expect next year will be more thriving economically what we expect. of through a combination of factors I have mentioned, in addition to that if the Government took the initiative to amend some laws such as the investment law, which has objections by some investors even more so doing, provided the promoters next year will see a kind of vital to the economy of Iraq and also the general budget of the state will recover and be able to do the costs, especially since many of the commitments of the State relating to the national side in the operational budget (salaries, pensions, social protection network), and if the economic recovery, it will turn on the Iraqi people are positive. However, a member of the Finance Committee in his speech said: "We hope large that the government and promised to submit a draft to amend the retirement law, especially with regard to the topic by retired ex-2006.
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بغد BAGHDAD - Al Sabah
ق. A member of the Finance Committee Sami Atrushi bonds to be issued by the Government not to close the deficit in the budget. و 2009. He said in a newspaper by the Financial Management Act No. 95 of 2004 of the Government's right to issue bonds to meet the disabled in any budget, but the actual fact that the billions that have been added, whether the tune of one hundred and four contracts for electricity and 600 million dollars for water projects, trains and railways, these did not include within the general budget of the State in 2009.
. He was given to the need of government to the amounts of such bonds will be issued for a period of one year interest rate of 2%, but "What we object in the Finance Committee in the House of Representatives and put a special article in the budget law is not entitled to the issuance of government bonds after the stock only refer to the House of Representatives is the fear of the cash reserve held by the Central Bank of Iraq.
و
. He said when we spoke with the Central Bank of Iraq on these bonds, the central bank is satisfied with the government after the debate that she would issue a bond or bonds to buy banks in the State and the Central Bank is not any (secondary market), where the central bank is not entitled by law to buy from the government any bonds, but the right to market the second bank to buy the bonds as it has a cash reserve for the so-called legal reserve that the banks with the CBE, and in this reserve have enough to buy the bonds because of the urgent need for the government.
2006. Atrushi and that these contracts and the Ministry of Electricity has already been contracted with the companies belonging to the electricity crisis and the Citizen Finance Committee is satisfied that the agreement with the Central Bank approval of the issuance of these bonds have been presented to the House of Representatives with a report of the Finance Committee says, "The payment of these bonds will not affect in any way on the reserve of the Central Bank, and the other the fact that such bonds will be sold to the government and the Iraqi dinar, but the banks and the central bank would buy the bonds in dollars, not Iraqi dinars, and this will not affect inflation in the fact that the Central Bank of Iraq has recently taken over the sale of the dollar against the dollar and thus kept the price of the Iraqi dinar. He pointed out that Iraq is facing the problem called the (economic rent), or the adoption of Iraq's imports of oil, but the sum of resources and added to the state budget, I would expect next year will be more thriving economically what we expect. of through a combination of factors I have mentioned, in addition to that if the Government took the initiative to amend some laws such as the investment law, which has objections by some investors even more so doing, provided the promoters next year will see a kind of vital to the economy of Iraq and also the general budget of the state will recover and be able to do the costs, especially since many of the commitments of the State relating to the national side in the operational budget (salaries, pensions, social protection network), and if the economic recovery, it will turn on the Iraqi people are positive. However, a member of the Finance Committee in his speech said: "We hope large that the government and promised to submit a draft to amend the retirement law, especially with regard to the topic by retired ex-2006.
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