September 23, 2015
Baghdad/Iraq news network called the Finance Committee in the Chamber of deputies by the need to reduce operating expenses in the 2016 draft budget in half, with expected arrival of deputies after the holiday of Eid al-Adha and Committee member for the Liberal bloc Hussam retributive press today: 2016 budget Finance Ministry arrived to the Cabinet who now works on the study and discussion of paragraphs and items, anticipated the arrival of the budget to the House of representatives next week.
the Finance Committee in the Chamber of deputies will work according to Reduce or transfer certain amounts to the other sections, noting that the operating budget of the State remain high and equivalent to about 43 trillion dinars, stressing the need for reduced to almost half, detailed argument amounts must not be reduced and are allocations for social welfare and the like in mental circles must be reduced to intermediate goods or services.
On the value per barrel estimated in the budget of the penitentiary explained that 2016 is the price of a barrel of oil can vary between 40 $ 45, excluding the oil price appreciation away from that figure, citing that "the oil price descent without forty leads to many companies stopped working which will cause increased demand leading to higher prices, saying the oil price is subject to standards of supply and demand on the oil market.
The budget reportedly has moved out of the Finance Ministry and discussed in the corridors of the Cabinet, hoping to reach the House after Eid article first «first» in the first chapter of the State budget to imputation of income resulting from the export of crude oil based on the average price of 45 dollars per barrel. "
and Iraq's economy is «cash» for its dependence on the export of oil in the financing balance annually resulting in a deterioration of its economy since June last year because '' daash» criminal some provinces Coinciding with the decline in oil prices to $ 40 per barrel, forcing him to rely on new revenue as tariffs and increased rates of mobile phone recharge cards and spirits by 20 percent, as well as the Government to draft industrial and agricultural loans to move Iraq's economy and the sustainability of private sector.
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