The most important features of the budget numbers 2016 and expectations of access today to Parliament

October 20, 2015 10:57 am

Predicting the Economic Adviser to the Prime Minister Mohammad Saleh appearance up 2016 budget approved by the Cabinet on Tuesday in an extraordinary meeting to the corridors of the House probe on Tuesday, to discuss and approve next November.

Saleh said in a statement that underground news agency followed a barrel in this budget calculated on the basis of $ 45 for it (given) the realistic expectation that rising oil prices (Brent) relative and sold about $ 52 a barrel as an average price.

As valid that there is an understanding between the parliamentary Finance Committee, legislative and executive authority with respect to budgeting, and wished not to resort to the Federal Court on the texts of the budget, stressing the possibility that returned the budget to make adjustments to be sent to Parliament.

Economic Adviser to the Prime Minister also explained that the budget will be financed from internal revenues or borrowing from international financial institutions will be agreed upon after negotiations, indicating that investment budget equivalent to 26% of the total public budget which corresponds to the budget deficit.

And share territory in the balancing amount to 17% and will raise them sovereign allocations as expenditures of embassies and public debt and the ration card and the other paragraphs constitute about 7% of total spending.

He also drew attention to the budget had been prepared on the basis of Iraq's capacity to export oil at a rate of 3.3 million barrels a day, exporting all of Kurdistan and Kirkuk oil by 500,000 barrels.

The CAP budget spending by 2016 is 113 trillion dinars, and operating budget which constitutes 74% and 26% of the investment, financed by oil export revenues by less than 70 trillion dinars, in addition to funding from other sources accounted for 14 trillion Iraqi dinars.

Saleh concluded that budget submitted to Parliament within the time required, and more importantly to provide the Ministry of finance in March 2016 to the House, the final account for the 2015 budget (the budget) to see that the budget revenues and how it was spent, and savings, and doors failing, to inform the Iraqi people on their budget.