Member of the Finance Committee: 2016 budget theory is far from reality

By Shirin Dawood

Two hours ago

Roudao - Erbil

Announced member of the Finance Committee in the Iraqi Parliament Masood Haider Thursday that the deficit in the fiscal budget for 2016 of 26 percent, a high percentage, stressing that it balance the "theory" is far from reality.

He said Haider network Roudao media that he "had to estimate the price of a barrel of oil at 3 million barrels per day," noting that "this budget is a copy of the budget in 2015," describing it as "fiction and some theoretical thing."

Haider said that "oil revenues is very high and that the deficit will be on the ground less than reported here in the budget bill" remarkable that "the Council of Ministers that is close to reality as he read and discussed the drafting of the budget law".

He stressed that "the measures taken, which requires is to estimate the price of oil to $ 40 depending on the data in the oil companies and that the estimated quantities of oil should be less and bringing the oil revenues of $ 55 trillion." Noting that "the available data from non-oil revenues are much less that this data should be more than 10 percent."

He concluded by saying that "the Council of Ministers by the vote on the law and to be closer to reality."

The draft of the Iraqi budget for 2016 to the Ministry of Finance's Web site, on Wednesday, announced that the ministry proposes to balance the size of 113.5 trillion Iraqi dinars (99.65 billion dollars), with a deficit of 29.4 trillion dinars (25.81 billion dollars).

Finance Committee revealed in the Iraqi parliament, on Tuesday, for the completion of the Ministry of Finance to balance the 2016 budget is likely to be in front of the parliament during the month of October / October next.