Parliamentary Finance: We will put the price of oil pessimist in the budget of 2016
9/25/2015 0 Comments

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Parliamentary Finance Committee announced it seeks to develop a "pessimistic price" in the estimation of the financial budget for 2016.
He said the Commission's decision Ahmed Haj Rashid told all of Iraq [where] that "the draft budget of 2016 is good and the price per barrel which is the price of a conservative and we have proposed to be a pessimist and strive for it," noting that "the price the current conservative is not in favor of Iraq, the fact that oil prices fluctuate between the decline and collapse. "
He added "we will demand that the price of the barrel in the budget between 30 to 35 barrels of oil is expected to reach world prices for this rate."
The draft of the Ministry of Finance for the 2016 budget submitted to the Council of Ministers last week, has calculated the revenues derived from the export of crude oil on the basis of the average price of 45 dollars per barrel and the rate of export of 3.6 million barrels per day.
She pointed out that the draft speculative revenues from Iraq's oil sales for the next year in 2016 estimated $ 59 billion is equivalent to 83% of federal budget revenues.
According to figures contained in the draft that the 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, the value of the dollar 59 billion and $ 130 million.
As reported by the Ministry of Finance accounts slightly higher deficit for the 2016 budget next year by 1.5% from last year's budget, which in 2015 was of 25%. According to the draft budget that the total expenditure of more than 113 trillion dinars, which is low by about six trillion dinars from the budget last year, which was 119 trillion dinars The 2016 budget deficit ratio stood at 26.5%, or about 30 trillion Danar.

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