Haitham al-Jubouri: we'll deduct the region's share in budget of 2016 for lack 9/21
Haitham al-Jubouri: we'll deduct the region's share in the budget of 2016 for lack of commitment to the oil agreement
9/21/2015 0 Comments
[Baghdad-where] hinted in the parliamentary finance committee member deduct the Kurdistan region's share of the federal budget for 2016 "for his lack of oil in agreement" with Baghdad in the current year. He said Haitham al-Jubouri told all of Iraq [where], that "the draft of the Ministry of Finance to balance in 2016 calculated the share of the region according to the oil agreement to export 550 000 barrels per day, but we are not convinced of this because the region has failed to do in the budget of 2015". He said al-Jubouri, "We have directed the Finance Committee standing on the seriousness of the Kurdistan region in this Agreement and his commitment to do and if we did not see that we will try to carve out the region's share of the budget [revenue and expenditure] and that only is financially whether to sell oil or other in order to achieve their financial resources.
"The draft of the Ministry of Finance to balance in 2016 submitted to the Council of Ministers last week, the revenues derived from export of crude oil has been calculated on the basis of the average price of 45 dollars per barrel and the rate of export of 3.6 million barrels per day, including 250 000 barrels per day of product quantities of crude oil in the Kurdistan region and 300 000 barrels of crude oil quantities product by the province of Kirkuk, and that all revenue actually income once the public treasury of the state to account.
She draft budget that speculative revenue for Iraq from sales of oil for the next 2016 an estimated $ 59 billion is equivalent to 83% of federal budget revenues.
According to figures contained in the draft that oil revenues and mineral wealth is estimated at 69 Trliuna and 773 billion and 400 million Iraqi dinars, equivalent to about 83% of the total revenue conjecture 84 trillion dinars and add to it the amounts Estimated obtained from the loans and the other to cover the deficit in the budget.
This is equivalent to oil revenues worth USD 59 billion and 130 million.
as reported by the Ministry of Finance accounts slightly higher deficit next year's budget in 2016 by 1.5% from last year's budget in 2015, which was 25 percent.
According to the draft budget that the total expenditure of more than 113 trillion dinars, which is low by about six trillion dinars for the budget year the last, which was 119 trillion dinars The percentage of 2016 budget deficit amounted to 26.5%, or about 30 trillion dinars.
loggerheads for years between the center and the region to export the power and confined in the absence of oil and gas inactivated law passed for years, but the two sides reached in December 2014 an agreement to export region 250 000 barrels of production with 300 000 barrels of the province of Kirkuk fields in exchange for pay Baghdad Kurdistan's share of the federal budget by 17%, but that agreement has struggled since then with an exchange of accusations between Baghdad and Erbil non-compliance, but did not announce any of them finish the work Balag.