Parliamentary financial keep the price of oil and the amount of production in the budget

12/14/2015 (00:01 pm)
BAGHDAD / Hazem martyr - the long-Presse
His economic advisor to the prime minister Haider al-Abadi, on Sunday, for "pessimism" of the economic situation of Iraq over the next year in 2016, attributing the cause to the continued decline in global oil prices, while the parliamentary finance committee confirmed its intention to offer the federal budget for 2016 Act the timing of schedule, in showed that while members of the Finance Committee are working to hold daily meetings to review the extensive budget items and the development of the required modifications.
Said Finance Committee member Ahmed Sarhan in an interview with the "long" that the special review ongoing budget items on a daily basis and by 7 hours of continuous display for the purpose of the law in the parliament meetings on time, a sixteenth of this December. "
Ahmed explained that "the Commission began a review of the points less complex each point separately, to develop the necessary adjustments as revealed that the points of contention that carry political aspects will be discussed after the completion of the first points away from political differences,"
And the price of a barrel of oil and the amount specified in the budget between the member of the parliamentary finance committee, Ahmed Sarhan survival output unchanged as he emphasized that discussions have achieved advanced stages reached by which Members to put the required notes.
He acknowledged the Iraqi cabinet Sunday (18 October 2015) of the financial budget for the 2016 law.
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.
According to the Ministry of Finance accounts, up slightly for the budget deficit next year in 2016 by 1.5% from last year's budget 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 of product quantities of crude oil through the Kirkuk province, and that all revenue actually a final revenue of the public treasury of the state to account.
She noted that the draft budget to the speculative revenues from Iraq's oil sales for the next 2016 Tkdrb $ 59 billion and 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 augmented by the amounts Estimated obtained from the loans and the other to cover the deficit in the budget.
For his part, the appearance of Mohammed Saleh said in an interview to the (long-Presse) that "the budget for Iraq in the current 2015 is priced oil, $ B56, while it was sold for less than $ 49 during the first of which nine months, which is a burden born large deficit forced Government to bear the consequences, "expressing his" not optimistic economic reality over the next year in 2016, in light of the continued fall in oil prices and the global markets, requires continuing retrenchment, and limited to those which have priority, such as salaries and the war against terrorism and health. "
Saleh added that "the government does not have a magic wand to transform the Iraqi economy to agricultural and industrial after decades of underdevelopment and neglect of diversifying sources of national income, and the failure to adopt sound economic policy, whether or imposed on Iraq because of the current circumstances."
For his part, the head of the Commission on oil and parliamentary power the Ares Abdullah, in an interview to the (long-Presse), said that "Iraq is going through a financial and economic real crisis, exacerbated by the decline in oil prices," returned "The government should be working to diversify its sources of revenue and not rely only on oil. "
Abdullah called on the government to "eradicate corruption and reduce costs," warning that "the government will have to borrow to increase the burden of the country if these treatments have not adopted".
Abdullah said that "the government and the House of Representatives bear a major responsibility to improve the economics of the country," calling on everyone to "think of how to find a radical solution to the financial problems, lest Iraq's economy remains subject to the vagaries of world oil prices."
The Ministry of Oil in (November 15, 2015) its ability to produce the quantity planned in the budget. He said ministry spokesman Assem Jihad said in an interview to the "long" that the production of the oil fields in the south and center exceeded three million barrels a day, and that amount if they have been added production from the Kurdistan region oil quantities will achieve the required percentage, as pointed out that "the price of oil now the budget has been in consultation between the Economic Committee in the Ministry of Oil and the ad hoc committee in the Council of Ministers, "noting that" the current price OK to reality other than those adopted in the 2015 budget. "
Jihad and stressed "that the Oil Ministry able to produce a quantity prescribed in the budget.