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News and Reports : Finance: Distribution of shares of citizens from oil revenues in June
Union: the Ministry of Finance suggested that the process of distribution accounted for 25% of the projected increases in oil revenues to citizens during the month of June, noting that the process of distribution will be through agents and distribution of food.
He said Undersecretary Fadel Prophet's (Rn) yesterday that "the country's budget for 2012 includes the distribution of 25% of the increase in oil revenues to citizens, but can not the ministry announced the size of those payments now, because this depends on oil prices, and can not know until after the the holy month of June. " He added that "It is not known yet whether will increase the financial returns from the sale of oil or not, if increased, the best mechanism is the repetition of past experience when the distribution of compensatory payments for food rations to citizens, through agents of food." And on the allocation of $ trillion dinars to compensate those affected by the previous regime, said the Prophet said, "This rule were not present within the budget bill, but added to it by the Council of Ministers, so you're not familiar with the details yet, because they were not up to the ministry." The House of Representatives has approved on Thursday the country's budget for 2012 was 117 trillion worth of dinars (about U.S. $ 100 billion), based on an average oil price of $ 85 a barrel and an average crude exports of 2.6 million barrels a day. And ensure that the budget law, a provision on the distribution of 25% of the increase in oil prices, if exceeded price of a barrel of oil exceeded U.S. $ 85 (current price is $ 120), on the citizens.
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Union: the Ministry of Finance suggested that the process of distribution accounted for 25% of the projected increases in oil revenues to citizens during the month of June, noting that the process of distribution will be through agents and distribution of food.
He said Undersecretary Fadel Prophet's (Rn) yesterday that "the country's budget for 2012 includes the distribution of 25% of the increase in oil revenues to citizens, but can not the ministry announced the size of those payments now, because this depends on oil prices, and can not know until after the the holy month of June. " He added that "It is not known yet whether will increase the financial returns from the sale of oil or not, if increased, the best mechanism is the repetition of past experience when the distribution of compensatory payments for food rations to citizens, through agents of food." And on the allocation of $ trillion dinars to compensate those affected by the previous regime, said the Prophet said, "This rule were not present within the budget bill, but added to it by the Council of Ministers, so you're not familiar with the details yet, because they were not up to the ministry." The House of Representatives has approved on Thursday the country's budget for 2012 was 117 trillion worth of dinars (about U.S. $ 100 billion), based on an average oil price of $ 85 a barrel and an average crude exports of 2.6 million barrels a day. And ensure that the budget law, a provision on the distribution of 25% of the increase in oil prices, if exceeded price of a barrel of oil exceeded U.S. $ 85 (current price is $ 120), on the citizens.
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