Economist: Budget unsuccessful accounts and the deficit will reach 29 trillion next year

Wednesday September 16 2015 | 06:39 evening

BAGHDAD / .. confirmed the board of the Central Bank's board member Majid picture, Wednesday, that the budget was prepared with respect to all accounts included in the budget of 2016 was not successful and does not conform with the current phase requirements, in conjunction with the possibility of lower oil prices, and in particular with regard to the calculation expenses It amounted to 84 trillion dinars of the total budget, stressing that the deficit will rise to 29 trillion dinars in the event of approval of the budget on the basis of current accounts.

And said the picture for "Eye Iraq News", that "the financial and put price My guess $ 45 per barrel, and the rate of export 3 Malaen and 600 thousand barrels per day, a figure which is currently issued by Iraq", calling it "a rate that meets the aspirations, as a result the integration of the region's oil exports with Baghdad. "

He added that "the preparation of the budget accounts was not successful, and in line with the size of the current requirements, where the expenditure ratio stood at 84 trillion dinars, which is a huge amount proportion of the budget which amounts to nearly 120 trillion, at which time it could drop the price per barrel in the future to below the current price. "

At last the price of the picture by the "approval of money laundering voted by the House of Representatives during the regular session held today the law," adding that "the issue is not related to passage of laws but activate it, especially with the presence of a lot of the Constitution is applicable to materials."

The Finance Committee of the House of Representatives is expected, on Wednesday, to arrive in the draft general budget law in 2016 during the first month of next October, indicating that it would be a "balancing the need to" balance without investment or recreational, as well as the cancellation of hospitality allocations and Alaivad.anthy / 8