Deficit of Billions of Dinars; Current Year Budget Can’t Meet Projects Cost, Diyala

Iraq NewsIraqi Dinar 123 News:– The governor of Diyala province said that the Diyala budget is not enough to support running development projects of the province. Iraq allocated 326 billion Iraqi dinars to the province in the budget. the sector department and administrative unit projects are under operation in the province that need huge funds for its accomplishment but government of Iraq is not ready to allocate more than 326 billion Iraqi dinars to the province for all of its needs and that is so less.

The financial budget of Iraq is also facing deficit of billions of dollars that is difficult to fulfill in few days. Central bank of Iraq tried its best to fulfill the deficiency in budget by different means. Iraq is using internal and external sources to cover deficit of budget. Central bank of Iraq invited local banks to invest in frozen assets of Iraq. This investment will be used to fulfill the gap of budget. Moreover, the World Bank also offered $355 million dollars to fulfill the budgetary gas that Iraq accepted. But the amount is not enough to fulfill the whole gap and therefore it is looking for some other means to compensate this gap.

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