Ali al-Azzawi wrote: Iraq cut public expenditure in the draft budget estimates for the next year, up 41% from the estimated expenditure for the current year, under pressure from the oil crisis that toppled more than half of its revenues. Finance Committee revealed in the Iraqi parliament for the end of the Ministry of Finance to prepare the draft budget for next year in 2016, valued at close to $ 60 billion, compared to the budget of up to $ 102 billion for the current year. The Finance Committee and suggested that the government lift, the draft budget to parliament next month. He said the parliamentary finance committee member Haitham al-Jubouri in a press statement that the Ministry of Finance prepared the 2016 budget on the basis of an estimated price for a barrel of oil at $ 60, stressing that the Commission would reject this claim and speculative price downwards to around $ 40 a barrel.
Jubouri between the size of the 2016 budget will be increased by $ 60 billion if the production of oil arrived in Iraq to four million barrels per day and that means pressure operating budget significantly, as well as the need to address the pay scale and the salaries of the three presidencies.
He said, that in 2016 the next budget will be the budget of 'necessity' no room for recreational or investment, hospitality, or IFAD, expecting that Iraq is facing the biggest financial crisis of facing now due to the absence of next year's budget from internal funds, represented by loans the public treasury bonds.
The experts guessed that the country is experiencing a severe economic crisis during 2016 as a result of the decline of Iraq's oil exports and high inflation in the country and the continued decline in global oil prices.
He said economic analyst Abdul Wadud al-Dulaimi, said that Iraq faces the risk of an economic crisis has crippled the country during 2016, what makes it imperative that the new budget will be the budget 'necessity' which excluded many of the paragraphs Kalziavh and IFAD and investment.
The student observers and experts to reconsider the pay scale in the country and sort the tens of thousands of ghost employees in the ministries of Defense and Interior, who does not exist for them is the name, while the salaries of these fictitious senior staff officers received.
Said rights activist Ali al-Yassiri, the government must quickly remedy the financial crisis and continue reforms. Otherwise, Iraq is heading toward an economic abyss.