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Baghdad / Orr News
Ministry of Finance reduced the importance of an interception Monetary Fund and the World Bank to raise the price of a barrel of oil in the federal budget, indicating that the addition of five dollars on the price of a barrel came as a result of increased expenses in the budget.
Said Undersecretary Fadel Prophet "It was agreed at the preparation of the budget strategy for 2013 between Iraq and the IMF and the World Bank to be $ 85 a barrel, and there was no opposition to raise the price of a barrel to $ 90."
He added that "next year's budget increased value and estimated amounts for the expenses also rose, so the Council of Ministers decided to calculate the price of $ 90 a barrel instead of $ 85." He continued that "I think the Finance Minister Rafie al-Issawi Light Monetary Fund and the World Bank on the subject and we do not believe that there were problems."
The Council of Ministers decided at its forty-sixth regular on 23 October 2012, approved a draft law the federal budget for 2013 of $ (138) trillion dinars, an increase of 18% from last year.
According to the project that the total federal income amounted to (119.3) trillion dinars were the result of calculating the revenues from export of crude oil at an average price (90) dollars per barrel and export capacity of up to (2.9) million barrels per day, including the quantity produced and exported from the Kurdistan region of the ( 250) thousand barrels per day.
The amount of the investment budget (55) trillion dinars and the operating budget (83) trillion dinars distributed to institutions, ministries and all state bodies where public expenditure will be distributed according to population ratios after excluding allocations of the federal ministry center and sovereign expenditure.
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