Published figures of oil revenues & expenditures of the GoI during 1st half of 2016
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Thread: Published figures of oil revenues & expenditures of the GoI during 1st half of 2016

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    Published figures of oil revenues & expenditures of the GoI during 1st half of 2016

    Twilight News published figures of oil revenues and expenditures of the Iraqi government during the first half of 2016

    4 hours ago

    Twilight News / revealed to the Committee of Financial Experts (a government committee) on Saturday for the export of oil revenues and expenditures of the government during the first six months of 2016, while the ministries indicated that they will issue a report this month.

    The Chairman of the Committee Abdul Basit Turki Saeed, said in a statement responded to the Twilight News, the Committee met and discussed with the representative of the international auditing firm KPMG draft report the company's financial statements for the first six of 2016 for months, which is the listed company will issue soon, based on the contract signed with them, where indicators showed that oil export revenues during the period amounted to the sum of $ (17,092,296,000) approximately $, while expenditures amounted to (17,434,933,000) any dollars that there is an increase in expenses compared to revenue. (Expenses $342,637,000 more than oil revenues - LOOP)

    Chairman of the Committee and added that it was also discussed during the meeting and the oil ministry's quarterly report for the fourth quarter of 2016 for the implementation of the follow-up set of measurement and calibration equipment in the oil industry, "where the percentage of implementation in the field of oil export 100%."

    Turkish and stressed that it expected to complete the international auditing firm completion scrutiny eight ministries before the middle of this month and complete the rest of the ministries and five provinces in addition to the Kurdistan Region by the end of August of this year. And it founded the Committee of Financial Experts on the basis of the Cabinet decision and began its work in 1/4/2007, to be the alternative to the International Council Advisory and Monitoring, which currently oversees the spending of Iraqi public funds derived from the production and export of oil and oil products, which are deposited in an account supervision device at the Federal reserve Bank of New York, based on UN Security Council resolutions passed after the overthrow of the former regime as the development Fund for Iraq, has this account granting international immunity, so as not to be liable to seizure and forfeiture as a result of an international court decisions, it may be issued for the lawsuits and claims against the former regime .

    Last edited by Loopback; 03-04-2017 at 01:03 PM.

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