Economic institute tomorrow to discuss the challenges of 2016 budget

2015/10/2 17:57

The progress of the Iraqi Development Policy Institute, discussed on Saturday a draft budget for next fiscal 2016 provided by the Ministry of Finance to the government in 16 of last September.

A source in the institute said in a statement received by the agency all of Iraq [where] a copy of "Institute of the progress of development policies will be held at ten o'clock in the morning an important seminar to discuss the budget in 2016 and speaks by the Economic Adviser to the Prime Minister the appearance of Mohammed Saleh, about the challenges of the budget and the mechanics of the plug where through loans and project financing.

"He added," will participate in the symposium Director of the Office of Prime Minister Mahdi Keywords and a group of economists, oil, money, and representatives of the Association of private banks and the Federation of Iraqi businessmen and others.

"And that" the seminar run by the Attorney-Mehdi al-Hafez, adding that "the seminar held in the Institute of the object's headquarters in Jadiriyah the intersection of the university.

"The draft of the Ministry of Finance to balance in 2016 had 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 a day.

She draft that revenue speculative 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 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 Estimated revenue b 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 2015 she was 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.anthy