Finance: the total size of the 2016 budget would be $ 60 billion
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    Finance: the total size of the 2016 budget would be $ 60 billion

    Finance: the total size of the 2016 budget would be $ 60 billion



    Finance: the total size of the 2016 budget would be $ 60 billion

    Roodao-parliamentary Finance Committee anticipates the arrival of the 2016 budget to Parliament next month for discussion and approval, while hinted at the continuing financial crisis in Iraq next year, and indicated that their value will reach 60 billion dollars in case of export of 4 million barrels of oil a day. The Finance Ministry has submitted a draft law budget 2016 to the Cabinet.

    And Financial Committee declared that "the Finance Ministry calculated the price of a barrel of oil on the basis of the assessment in the budget at $ 60", stating that "the Committee will reject this price assessment is calculated rate is $ 40 instead". The Committee noted that "the overall size of the budget would be $ 60 billion if Iraq's oil production to four million barrels per day", noting that "it would invite pressure operating budget and treatment of salary and the salaries of the three presidencies".

    The Committee stressed that "balancing next year 2016, will be balancing the need to balance the budget without investment or entertainment or hospitality or dispatch", Iraq may face a financial crisis that now faces ", due to the absence in balance next year from internal funds, loans, Treasury bonds".

    The drop in oil prices represents a big problem for Iraq, which relies on oil revenues primarily as a source of income at a time when it faces significant challenges to internal fighting with "daash " and the need to provide funds for basic services that suffer from a serious shortage.

    http://rudaw.net/arabic/business/160920151
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