International Monetary Iraq recommends the adoption price of $ 42 per barrel of oil in the budget of 2017

Views 5 09/27/2016

Finance Committee in the House of Representatives revealed on Tuesday that the International Monetary Fund has recommended the adoption of Iraq's $ 42 price for a barrel of oil in the next year's budget in 2017, while the likely arrival of the budget to the House of Representatives next week.

Said committee member Ahmed Sarhan Sarhan in a press statement, "The IMF recommended Iraq to increase the price of a barrel of oil in the budget from $ 35 to $ 42 after a slight rise in oil prices and reduce government spending."

He added that "these measures will reduce the deficit of 32 trillion dinars to 24 trillion and Iraq will get an additional loan from the World Bank and IMF to bridge the deficit in addition to the reduction in non-essential expenditures."

He guessed Sarhan, "the arrival of the draft budget to parliament next week or next at the latest after the completion of all discussions on them in the Council of Ministers", adding that "the budget bill will pass easily unlike the previous years."