Parliamentary Finance: Government wants to build on 2016 budget price of $ 60 9/15
Parliamentary Finance: The government wants to build on the 2016 budget price of $ 60 per barrel of oil
Revealed the parliamentary finance committee member Masood Haider, said the government wanted to build next year's budget in 2016 to $ 60 as the price for a barrel of oil. Said Haider told all of Iraq [where], "The government wanted to guess the price of a barrel of oil at $ 60 to balance next year, and see that this is a realistic amount and exaggerated."
He explained: "In the budget strategy was the idea when he began preparation in the month in May that determines the price of a barrel to $ 60, "noting," We in the Finance Committee believe that the $ 40 price appropriate to guess the price of a barrel. He added Haidar" until now there are no signs confirm that the Council of Ministers will discuss the budget bill soon, "stressing that" the government abide by legal frameworks that are sent on the tenth of next November this law to the House of Representatives.
"The Committee on the economy and investment representative, said in the second of September of this, the budget in 2016 is still with the Ministry of Finance.
She said committee member Najiba Najib's [where] , that "the budget so far the Ministry of Finance did everything related expenditure side and the revenue is completed, as it has so far not decided the price of oil Evaluator, and the reforms package has not been completed in order to know the expenses that have been reduced rate."
The parliamentary Finance Committee, revealed on the first of September, that "the general budget deficit of 53 trillion dinars."
said committee member Majda al-Tamimi, for [where], that "to be in the public budget deficit is 23 trillion dinars, but according to the accounts of current data and low oil prices in the market Global arrived deficit to 53 trillion dinars, adding that "more than half of the current year's budget is the real deficit is not planned."
relies Iraqi state in the construction of the annual financial budget by about 90% on imports of the source of oil, and the resulting decline in crude prices since the middle of last year to a decline large in Iraq's resources reaching its budget in 2015 about $ 100 billion deficit expected up to 25%, prompting the government to launch treasury bonds worth $ 6 billion and borrowing from the International Monetary Fund about $ 1.2 billion in an attempt to reduce this deficit with the continuing drop in prices .