In parliamentary Finance member calls to reduce 2016 budget oil price to $ 40. 9/20
In the parliamentary Finance member calls to reduce the 2016 budget oil price to $ 40 and quantity to 3 million barrels to reduce the deficit
9/20/2015 0 Comments
[Baghdad-where] called on the parliamentary finance committee member Masood Haider to reduce the estimated per barrel of oil price in the draft of the Ministry of Finance to balance in 2016 from $ 45 to $ 40 as well as the estimate of exports of 3.6 million barrels to 3 million barrels per day to reduce the projected fiscal deficit size 26.5% . Haider said in a statement received by the agency all of Iraq [where] a copy of it, that "the government estimated the price of oil by $ 40] with the quantities of oil by 3 million barrels per day] becomes oil revenues [$ 43.8 billion] any [51.684 trillion dinars] a difference of 18 trillion dinars] [27%] figure theoretical in the draft law.
"He pointed out that" the available information on other sources of revenue for 2015 confirms that the figures are stated in the 2015 budget were not accurate and it's up to 15%, which the degree as a figure of revenue for another. "He added Haider that" it was necessary for the government to an estimated real figures for non-oil revenues Ideally up to 7 trillion dinars] Thus, the total state revenues [58.684 trillion dinars], and this amount is closer to reality 2016 In light of this must be specified spending in the Iraqi state institutions and determine the budget deficit.
"He continued member of the Finance parliamentary" in the event of keeping the total expenditures on 113.5 trillion dinars], the amount of the budget deficit would be [54.816 trillion dinars] a rate [48.3% ] of the general budget.
"He pointed Haidar, said that" the security and defense sector identified a higher proportion of the budget and then the oil sector comes then education and then health and education, raising questions that the agricultural sector and the tourism industries of non-oil has not allocated a budget in line with the reform plan ".
He said it will be 2016 complement to the 2015 economic sense and get out of this economic crisis, and the government can take beyond the familiar economic decisions."
He pointed to "the collapse of the security situation in the western provinces and the advent of terrorism to Iraq in mid 2014 with the presence of institutions a country where I consulted financial and administrative corruption and flaccid large numbers of employees exceed all international standards, with a decline in oil prices exceeded 60%, "noting that" contributed to the development of the Iraqi state with all its institutions in a position not seen since 2003 ".
He attributed the Kurdish lawmaker" This situation it was not the political leaders who have received the referee after 2003 clear visions for the project of building the institutional state of citizenship where the main theme of peaceful coexistence between the components and the real participation in the political, security and economic decisions and diplomatic relations-making. "
said Masood Haider: that Iraq has become an open field conflicts of regional and international one hand and face the threat of terrorism ugly and the risk of the lack of a strategy to build solid institutions and a strong economy "plans.
and accept Adhano parliamentary finance committee of the Iraqi budget, he said: Although budgets fictional Iraqi state, which began in the amount of [$ 6.1 billion] in 2003 to up to [115 billion] in 2013, an increase of 95% over ten years in the state budget, was not reflected on the Iraqi economy, industrial, agricultural and tourist Baktaath as not to activate the private sector to reduce the heavy burden on the state institutions and the creation of employment opportunities for the energies and competencies youth on the one hand and increase sources Revenue of the State on the other hand. "He said the" the Iraqi economy remained economical Rieia relies on as a source of essential oil revenue by about 95%, and as a result of this economic policy is good and the sharp decline in oil prices and the waste of hundreds of billions in the past years brought Iraq to a state of crisis and very critical financial situation in 2015 financial and critical situation and economic of the Iraqi state will continue in 2016 as well. "He noted that" Alambla's total budget in 2016 is [113.500 trillion dinars] any [96.186 billion dollars, which was allocated about [73%] of it for ongoing expenses by [83.025 trillion dinars] any [70.36 billion], and allocated [27%] of it for the expenses of the investment by [30.48 trillion dinars] any [25.83 billion], and as oil revenues by [69.77 trillion dinars and non-oil by [14.3 trillion dinars, which that the deficit ratio by these figures up to [26%] by [29.43 trillion dinars] a [$ 25 billion]. "He pointed Haider that" the price of a barrel of oil estimated in the draft 2016 budget by $ 45] and the quantities of exported oil by 3.6 million barrels a day], including oil province of Kurdistan. He said if they were compared with the 2016 budget 2015 budget we see that the figures are similar total expenditures have been reduced by about 5% while the theoretical revenue may have decreased about 11%. Economic indicators suggest that the price of oil on the world market has been swinging between $ 45-50, meaning that Iraq's oil could range between $ 38-43, it is worthwhile for the government to determine the quantities of exported oil for 2016 by 3 million barrels per day] except for the Kurdistan region because Export of the first seven months of 2015 the rate was [2.98 million barrels per day] [Basra oil with Kirkuk]. "