The IMF Warned to Approve Supplementary Budget or Stop Supporting Iraq: Masood Haider

On Tuesday, a member of the Iraqi Parliamentary Finance Committee MP Masood Haider issued a statement regarding the presence of essential requirements for Iraqi government to approve the complimentary budget prior to end of this month. The supplementary budget includes the amount of investment expenses for the basic reconstruction projects in the liberated areas. He also added that the supplementary budget is essential due to not completion of economic support for Iraq by the International Monetary Fund within a specific time period. He said in a press interview with Alsumaria News that 3 deputies from the Iraqi Parliamentary Finance Committee have discussed on the supplementary budget with the Iraqi government. They put the deducted 3% volume from salaries of employees in order to provide a support for the popular crowd and Iraqi displaced people. He pointed out that the view of Iraqi government was that the represented revenues figure are exists and this kind of change would upset the entire budget.

The IMF Warned to Approve Supplementary Budget or Stop Supporting Iraq: Masood HaiderHaider further added that the Commission has launched a discussion on the draft. The draft might be modified and finalized for its final presentation. The Iraqi House of Representatives will then announce the final decision after arranging a vote session for it. He pointed out that the expected changing will increase the budget in the amount of 7 trillion Iraqi dinars, in which at least 3 trillion Iraqi dinars has been allocated for the investment expenses. He added that the budget deficit for the financial year 2017 was amounted at 21 trillion Iraqi dinars, but the supplementary budget will increase the total deficit amount. After the approval of additional budget, the entire budget deficit might reach at 25 trillion Iraqi dinars. He further indicated that the supplementary budget has presented according to the directions of the International Monetary Fund. The IMF warned that the supplementary budget should be approved and implemented prior to end of July 2017, otherwise the IMF will stop its support for Iraq.

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