Two ministers in budget for 2016 and survival of deficit to around 30 trillion dinars
The two ministers for Atkhvad in the budget for 2016 and the survival of the deficit to around 30 trillion dinars
10/17/2015 0 Comments
[Baghdad-where] said two ministers in the federal government, that "Atkhvad or significant changes in the total expenditure in the draft budget law next year 2016". The Minister of Culture and Tourism Raundozi told all of Iraq [where] on Saturday, that "the total amount of the budget expenditures are estimated at 114 trillion dinars contrast, revenues will reach 84 trillion and 73 billion and 557 million dinars." He pointed out that "the Kurdistan region budget developed based on the oil agreement who conveyed the letter and spirit of the budget in 2016 but how to implement the agreement relation between the Governments of center and the region.
"The Minister of Culture said," a copy of the draft 2016 budget law exists now, the minister and given us more time to read the budget in general and the budget of each ministry, "he said." I've personally met with relevant financial affairs at the Ministry of Culture, "revealing" the lack of allocations or functional grades of the Ministry for the next year as its budget reduction is more about balance in 2015 because of the financial crisis.
"He Raundozi hope that" the Council of Ministers approved tomorrow and for Ataatokhr more particularly and that most of the ministers in the past three days presented their reports to the Council of Ministers on the budget and I think it will be voted on tomorrow.
"For his part, Minister of Youth and Sports, Abdul-Hussein Abtan no significant change in the budget next year has been announced by the draft Ministry of Finance last month and its estimated 113 trillion dinars as expenditure and a deficit of 26.5%.
said Abtan's [where] "I can not imagine there is a reduction in the budget and the meeting tomorrow will be voted on," noting that the budget "will remain at about 114 trillion dinars, as well as the survival of the same volume of expenditure and the deficit and this will not get significant changes in it."
He added that the "the investment budget will be around 30 trillion and the same amount of deficit" likely "to vote on the budget within the Council of Ministers on Sunday and sent to the House of Representatives."
He pointed out that "the House of Representatives has up to two months to the end of the year, long enough to pass the budget," pointing out that "the good thing this year is that the government will send the budget in the legal period for the House of Representatives and the remaining of the year, enough to Council for approval.
"It is noted that due to the Council of Ministers held on Sunday an extraordinary session to approve the draft financial budget for the financial year 2016. Law
The Ministry of Finance announced on 16 From last September it had delivered the draft 2016 budget to the cabinet for approval as published in its official website a copy of the draft, but the Cabinet decided earlier in the formation of a committee to investigate how the leak of this draft to the media.
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 dinars.
as reported by the Ministry of Finance accounts slightly higher deficit next year's budget in 2016 by 1.5% from the year's budget the last in 2015, which was of 25%, 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, including 250 000 barrels per day of product quantities of crude oil in the Kurdistan region and 300 000 barrels Product quantities of crude oil through the Kirkuk province, and that all revenue actually income once the public treasury of the state to account.
The draft budget to indicated 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 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. equalized oil revenues this worth dollar 59 billion and 130 million Dolar.