Iraq: budget deficit of $ 22 billion and $ 45 oil
Dr. Osama Mehdi

GMT 17:30 2015 Wednesday, December 16 GMT 22:00

London: Iraqi Council of Representatives passed a majority on the general budget of the country for the next year by $ 100 billion and a deficit of 22 billion and at $ 45 for a barrel of oil has allocated one billion and a half billion for the displaced and awarded 17 percent of its value to the northern region of Kurdistan.

The value of the federal budget for the fiscal year revenues coming in 2016 by the House of Representatives voted on one material after another and I followed "Elaf" 81 Trliuna and 700 billion and 803.138 million Iraqi dinars (about US $ 80 billion), based on the calculation of export price per barrel of oil at $ 45 and the rate of export of 3.6 million barrels per day, including 250 000 barrels of crude oil in the Kurdistan region amounts to 300 thousand barrels through the Kirkuk province.

The total deficit in the public budget Trliuna 24 and 194 billion and 919 million and 481 000 dinars (22 billion dollars) by up to 22.8 percent of the total amount of the budget.

The total expenditure in the budget about 106 trillion dinars ($ 102 billion) and revenues of about 83 trillion dinars ($ 80 billion) will be plug which is approaching a quarter of the budget through internal and external loans and treasury bonds.

The oil revenues of the budget 69 trillion and 773 billion dinars (66 billion dollars) and percentage constitute 85.1% of total revenues. And non-oil revenues amounted to more than 11 trillion and 927 billion dinars (10 billion dollars) and percentage constitute 13.6% of total revenues.

And it formed an ongoing operating expenses and overhead salaries of more than 80 trillion dinars (78 billion dollars) and increase of 76% of the total expenditure, while capital expenditures amounted to more than 25 trillion dinars ($ 22 billion) increase of 23.8%.

Parliament has agreed to allocate 71 percent of the value of the proportion of the budget to the Kurdistan region, an amount equal to about $ 17 billion, despite the objections of deputies of state law, led by former Prime Minister Nuri al-Maliki.

Budget amount and a half billion for Refugees displaced from their areas also allocated due to military operations and armed confrontations against al "Daash" which will be provided for displaced families a monthly grant and spending on their return to the areas of their residence original terms of the number of those displaced was three and a half million citizens.