Parliamentary economic: the price of 43 dollars a barrel would reduce the deficit fro
Parliamentary economic: the price of 43 dollars a barrel would reduce the deficit from 30 to 20 trillion dinars
The Economic Committee member attributed the brilliant Deputy Najib, Iraq agreement with the International Monetary Fund to calculate oil barrels b 43 instead of $ 35, to reduce the budget deficit to 2017 from 30 to 20 trillion dinars and raise revenue from 70 to 81 trillion dinars.
Najib said in a statement that "Iraq after standby credit agreement with the International Monetary Fund, laid the conditions for budget support, including to reduce costs and concentrate on only the necessary expenditure, but despite Iraq commitment bettibk terms but very high expenses and disability access to 30 trillion dinars, which prompted economists to reconsider the budget and set a price of $ 43 instead of 35.
Najib said that "building a $ 43 2017 budget would reduce the deficit from 30 to 20 that higher revenue from 70 to 81 trillion, as exists in the higher arithmetic formula revenue say fiscal deficit."
Najib also noted that "oil experts forecast affirms that 2017 would see a rise in oil prices to more than $ 50, which is what makes the oil experts in Iraq to put a price of $ 43 for next year's budget.
"Price of $ 43 a realistic price to some extent, will address the deficit and cover expenditures necessary".
She continued the Economic Committee member by saying: If things went according to expectations and oil price next year to more than $ 50 will counterbalance Iraq by price $ 43 "okay", if nkhvdat price without this number, we only to pay salaries and expenses so necessary. "
The IMF had conducted a review on the draft law of the federal budget for 2017 and agreed with Iraq to calculate the price of a barrel of oil to $ 43 instead of 35 rate proposed in the draft budget and crude oil export card amounting to 3.6 million barrels a day.