Parliamentary Finance: Reduce by half the operating budget

9/23/2015 0:00

Up to parliament after Eid
BAGHDAD - Omar Abdel-Latif

Finance Committee in the House of Representatives called for the need to reduce operating expenses in the draft 2016 budget by half, while the expected arrival in the House of Representatives after the Eid al-Adha holiday.

A member of the Committee for the Liberal bloc Hossam punitive in a statement singled out by the «morning»: The 2016 draft budget came from the Ministry of Finance to the Council of Ministers, who is now on his study and discuss the paragraphs and clauses, expecting the arrival of the budget to the House of Representatives week Almqubl.obin that the Finance Committee in House of Representatives will work according to their validity on the reduction or redeployment of certain amounts to the other sections, noting that the operating budget of the government departments are still high and equal to about 43 trillion dinars, stressing the need to be reduced almost to half, a detailed say the amounts should not be reduced, a social welfare allowances and the like The departments must be reduced disbursements on goods or services by half.

And about the value of a barrel of oil is estimated in the budget of 2016 punitive explained that the price of a barrel of oil could range between 4045 dollars, excluding estimate the price of oil away from this figure, citing the saying: the descent of the price of oil below forty lead to stop a lot of companies for work, which will cause an increase demand, which necessarily lead to higher prices, recalling that the price of oil is subject to the standards of supply and demand in the oil market.

The budget has gone out from the Ministry of Finance and raised for discussion in the corridors of the Council of Ministers in the hope that up to the House of Representatives after the Eid and Article First «First b» in the first chapter of the state budget on the «calculation of revenue resulting from the export of crude oil on the basis of price rate $ 45 per barrel. »

The economy of Iraq «Rieia» to its dependence on oil exports to finance its budget each year which led to the deterioration of the economy since June of last year because of the dominance «Daash» criminal to some provinces and coincided with the drop in oil prices to $ 40 per barrel, forcing him to rely on revenue New customs Kaltarafh and increasing prices of charging mobile phone cards and spirits by 20 percent, as well as the launch of government projects for industrial and agricultural loans to move the wheel of the Iraqi economy and the sustainability of the private sector.

http://www.alsabaah.iq/ArticleShow.aspx?ID=100978