Parliamentary finance reveals the entry of funds to cover 60% of the deficit by the b
Parliamentary finance reveals the entry of funds to cover 60% of the deficit by the budget of 2019 and reveal its source
The member of the Finance Committee of the Parliament, Abdel Hadi Saadawi, Wednesday (May 29, 2019), that the financial abundance achieved, in light of high oil prices, will cover about 60% of the deficit in the budget in 2019, considering its entry is important and decisive.
Al-Saadawi said in a press statement that "the price of a barrel of oil is currently in the world oil markets between 65 to 70 dollars," stressing that "the financial abundance that will be achieved by the end of the fiscal year will cover the deficit by up to more than 60% through the incoming funds."
He added that "the amounts of projects suspended to achieve the financial abundance estimated at (500) billion Iraqi dinars," believing that "the financial abundance will be able to fill these amounts for all projects planned."
As for the delay in the payment or delivery of the investment budget to some of the ministries or provinces MP said a coalition of state law, "The problem borne by the provinces that delayed in sending their budgets for projects to the Ministry of Planning, which led to the delay of disbursement of its investment budgets until this moment."
He pointed out that "there is a plan called (conservation plan) approved by local governments include the number of projects to be implemented during the general budget and therefore local governments delayed in sending."
He pointed out that "the province of Salah al-Din and another province sent their plan to the Ministry of Planning," stressing that "the Ministry of Finance does not bear the delay in the process of disbursement of funds for these projects."
The federal budget for 2019 committed the government to implement a number of investment projects belonging to a number of ministries and provinces to verify the financial abundance.
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