To anticipate a budget deficit reduction of 2016 13 trillion dinars from expenditure



The Government and Parliament make proactive efforts to reduce the size of next year's budget by some 13 trillion dinars over the proposed prices down from 45 dollars to only 40, especially with the forecast world oil markets suffered further tremors.

The Finance Committee believes that significant cuts and extensive operational and investment budgets in line with the financial crisis facing the country.


In the meantime parliamentary parties revealed close a Kurdish delegation headed by the President of the Kurdistan Regional Government to discuss the region's share in the budget of 2016, his certain oil agreement signed between Baghdad and Arbil, despite its recognition of the need for a new agreement.

The Finance Ministry sent, mid-September, financial budget bill 2016 valued at 84 trillion dinars, indicating that it had prepared on the sale price of 45 dollars per barrel, the export rate of 3.6 million barrels.
And the parliamentary Economic Committee, speculated last month, increase financial budget deficit for next year, 2016, due to falling oil prices, and questioned the Government's ability to meet the deficit.
Attorney Hussam retributive asserts that "the Finance Committee has hosted Finance Minister Hoshyar Zebari for details of the budget for the year 2016". the penitentiary, said in a statement to (range), that "the current budget (operational) for 2016, amounting to 83 trillion dinars, $ 30 trillion dinars investment", adding that "the Government reduced operating budget". He stressed that "all provinces and balancing services and institutions totaled 43 trillion and this also must be reduced".
Member of the Finance Committee, says that "it is not possible to put big numbers in the budget for the year 2016 under the low world oil prices", revealing that "the Minister of Finance informed the Finance Committee of the need to reduce the rate of adoption of selling oil ". Liberal mp explains that the oil Ministry is the Ministry of Finance has proposed the adoption of oil selling price of 45 dollars a barrel and an export card amounting to 3.6 million barrels per day ".

Attorney confirms punitive "an intention by the Finance Committee and the Government to change the size of the budget of 113 trillion to 100 trillion and commensurate with the scale of the economic challenges experienced by Iraq".
In the same context, says smart Najeeb, a member of the parliamentary Economic Committee, that "the General Budget Bill sent by the Finance Ministry to the Cabinet will be tkhivdah by reducing the price of oil to $ 40 a barrel".
Najib said (range), that "the budget of the Ministry of finance includes a very large deficit as well as the equal investment and operational spotted them too large amounts", noting that "projected world oil prices decline again".

And follow that "there are problems between the Federal Government and the Kurdistan region Arbil on share in the federal budget" and revealed that "Kurdish delegation headed by the head of Government of nechirvan Barzani, the Kurdistan region will visit Baghdad in the coming period".
Attorney draws on the KDP block that "this delegation will discuss the problems of oil and oil exports and production as well as financial problems as the peshmerga salaries and benefits", asserting that "the former oil agreement will take effect on next year's budget".
Najib says that "the Federal Government has not fulfilled balaltzamtha regarding Kurdistan share 17% of the budget, so we need a new agreement between Baghdad and Erbil commensurate with these challenges".
On the other hand, his attorney Rubaie that "the Government should take into account the increased allocations of security forces and the popular crowd through reducing expenses operating budget civilian ministries".
Rubaie said (range), that "the amounts allocated to the military effort requires big money because we're on a date with Nineveh edits and gray in the coming year".
The House decided, at a meeting today, the vote on the final accounts for 2005 and 2006 by the parliamentary Finance Committee.

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