Finance estimated average price of oil in the 2016 budget to $ 45 Wednesday 16 Septem
Finance estimated average price of oil in the 2016 budget to $ 45
Alsumaria News / Baghdad - estimated the Ministry of Finance, on Wednesday, the price of oil rate within the 2016 budget at $ 45 and the export of 3.6 million barrels per day, as pointed out that the revenue budget will amount to more than 84 000 trillion and 73 billion dinars.
The ministry said in a statement received Alsumaria News a copy of it, "it was calculated revenue from export of crude oil to balance next year 2016 on the basis of export rate of $ 45 per barrel and export up to 3.6 million barrels per day, including 250 000 barrels per day from the territory of Kurdistan and 300 000 barrels per day on the quantities of oil produced from fields of Kirkuk. "
The ministry added that "the estimated revenue for the budget next year will be 84 trillion and 73 billion and 557 138 000 dinars," noting that "the deficit will reach 29 000 trillion and 32 billion and 214.18 million dinars to be plug through loans and bonds and the use of Special Drawing Rights".
The ministry has followed" the estimated expenditure will be 113 trillion and 505 billion and 771 318 000 dinars, of which 30 000 trillion and 480 billion and 517 102 000 dinars for the expenses of the investment projects, while will be allocated 83 000 trillion and 25 billion and 254 216 000 dinars for ongoing expenses."
confirmed the ministry that he "will be allocated 150 000 billion emergency reserve within the provisions of other expenses to balance the Federal Ministry of Finance, in addition to the allocation of 1747 billion and 762 million dinars for the reconstruction and development of the regional and provincial projects, including the Kurdistan region." he pointed out that he "will be dedicated to $ 2 for every barrel crude oil producer in the province and $ 2 for every barrel of oil refined in refineries and $ 2 for all 150 cubic meters of natural gas producer for producing provinces."
and showed the ministry that" the budget provided to determine the share of the Kurdistan region, with 17% of the total current and investment expenditures after excluding expenses sovereign and changing this ratio with the increase or decrease of public expenditure, "noting that" he will be the allocation of part of the special forces of wild Iraqi army going forward to the Peshmerga forces according to population ratio. "
The Ministry of Finance, on Tuesday (September 15 2015) for submission draft budget 2016 to the Council of Ministers Law, stressing the importance of transparency and compliance with legal and constitutional Baltoukitat time in approval. The decline in oil prices a big problem for Iraq, which relies on oil revenues, mainly as a source of income at a time when facing major internal challenges of Baktale with organizing "Daash "and the need to provide the necessary funds for basic services, which suffers from a significant shortage.