Conscious / Finance Parliament reveals the surplus funds budget Iraq is the first of its kind since 2013

16/07/2019 12:02:00 PM


Conscious Baghdad

The Finance Committee in the House of Representatives, on Tuesday, a surplus of funds due to high oil prices, and record low price in the budget of 2019.

"The price of oil in all budgets is calculated by experts in a speculative manner, even if there is a rise or fall in world oil prices," said committee commissioner Ahmed al-Saffar in a statement.

Al-Saffar said that "there is a financial surplus, because the price of a barrel in the budget (56), in fact, is much higher, this money will be within the supplementary budget, which is distributed after half a year, if there is a financial surplus, Surplus ".

"The distribution of the supplementary budget funds is the responsibility of the ministries of finance and planning, and the House of Representatives has a role to do so, and be distributed according to regions and provinces that have received a few allocations, or is allocated part of this money for important projects, Likely that "the next few days, will witness the preparation and distribution of the supplementary budget."




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