Economic parliamentary: the price of $ 43 per barrel of oil will reduce the deficit from 30 to 20 trillion dinars

Views 49 Date 18/09/2016 - 17:03

Economy News / Baghdad ...

Izzat member MP Najiba Najib Economic Commission, Iraq's agreement with the International Monetary Fund and the calculation of a barrel of oil by 43 instead of $ 35, to reduce the deficit of the 2017 budget of 30 to 20 trillion dinars and raise revenue from 70 to 81 trillion dinars.

She said Najib in a statement that "Iraq after the Stand-By agreement with the International Monetary Fund, put it down conditions for budget support, including reducing expenditures and concentrated on necessary spending only, but in spite of Iraq's commitment to Pttaibq terms of the agreement, but the very high expenses and the arrival of the deficit ratio to 30 trillion dinars, which prompted experts economists to reconsider the budget and determine the price of $ 43 instead of 35.

Najib explained that "based on the 2017 budget of $ 43 will contribute to reducing the deficit from 30 to 20 the fact that higher revenue from 70 to 81 trillion, as exists in the equation calculations as revenue rose less fiscal deficit."

Najib also pointed out that "oil experts in global markets forecasts confirm that 2017 will see a rise in the price of a barrel of oil to more than $ 50, a Maidf oil experts in Iraq to put a price of $ 43 to balance next year."

She said the "price of $ 43 a realistic price to some extent and will contribute to addressing the deficit and cover necessary expenses."

She member of the Economic Committee by saying: if held things as experts forecast rising price of oil next year to more than $ 50 will be Iraq's budget by price $ 43 "fine", but if Nkhvdt prices without this figure, we will resort only to the payment of salaries is very necessary expenses ".

The International Monetary Fund has conducted a review of the draft federal budget for 2017 Act and agreed with Iraq to calculate the price of a barrel of oil to $ 43 instead of the proposed price of 35 in the draft budget and card export of crude oil of 3.6 million barrels per day.

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