Reason "WHY" the Budget did not reach the HoR

A committee to review the state expenses

   

11/30/2014 0:00

  BAGHDAD - morning

Re-pricing of oil in the budget bill from $ 70 to $ 64 and the formation of a ministerial committee to review public expenditures of the state, highlights the decisions of the Council of Ministers in its meeting yesterday.

According to a statement of the Council received a "morning," a copy of "The Council held a special meeting yesterday evening to review the proposal of the general budget for 2015 submitted by the Ministry of Finance."

The statement added that "In light of the sharp decline, which happened in oil prices over the past few days and caused a serious increase in disability rates, the Cabinet decided to form a ministerial committee shall conduct a comprehensive review of public expenditure of the State; to come out with recommendations made during the week to address and reduce the projected deficit the budget. "

It is expected that this committee is working to monitor global oil prices variables to estimate the necessary measures taken to address the budget deficit.

To that news agencies quoted a source in the Council of Ministers of anonymity refused to "The Council decided at its meeting re-pricing of oil in the budget bill from $ 70 to $ 64 or less to reduce the fiscal deficit existing in size," pointing out that "the Council did not vote on the budget for this reason. "

Several points in the process to develop new measurements of the budget in the coming years to reduce the projected deficit.




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