Finance Committee: Reduce "a trillion and a half trillion dinars," in 2015 budget

Wednesday, January 7, 2015 12:13



BAGHDAD / Baghdadi News / ... the parliamentary finance committee confirmed, Wednesday, that the parliament session includes the second reading of the budget for fiscal 2015, saying he will explain the budget and the method of construction and criticism of her and compared with previous years.

A member of the Finance Committee Faleh applicable in a statement / Baghdadi News / "The parliament session, today, include the second reading of the fiscal budget for 2015, according to the report prepared by the Finance Committee during its meetings for the past three days."

Noting, "It will be explained in the budget and the method of construction and criticism of her as well as the continued decline in oil prices and revenues and compared with previous years," .modha "It will be a technical reading of the general budget."

He said in effect that "the Finance Committee met with several government ministries and Almússat financial experts convened and reached common points with government ministries and Almússat."

Revealed member of the Finance Committee, said the committee in the context of the texts and controls to prevent some of the items in the budget, including the hospitality and the purchase of cars and vehicles travel expenses. "

The most prominent effect that "the Finance Committee was able to reduce the approximately (a trillion and a half) dinars from expenditure" afterthought, it's "drafts and are not final by collecting some money in the budget, which the Commission believes is necessary and has been reduced."



And criticism of the financial budget for 2015 .aodh sarees that "the budget automates the oil to $ 60 a barrel price today dropped to less than $ 40, and on the basis of the price of oil limit yesterday, 51 Brent and we sell under this price to $ 7 in the sense that we sold yesterday at a price of 45 - $ 46 ".mattabra that this" big problem. "

"The estimated amount of oil that Iraq sells 3 million and three hundred thousand barrels per day and we are now on 7 month were exported 2.9 million barrels of all our assets in Basra and the Kurdistan region and Kirkuk."



On the other main criticism of the budget, the member of the Finance Committee, said that "to cover the budget deficit will be through borrowing, and no economic theory calls for borrowing to meet the operating expenses and applicable to Alatqrad be investment projects generate contrast profits cover the borrowing value and interest imposed on them."

He said in effect that among the other to balance criticism of "the existence of obligations on Iraq as US $ 12 billion are the benefits of the oil companies in the oil licenses held by the Ministry of Oil with these companies agenda."

 Noting that these amounts are not included in the budget, ".modha that items" that means that the Minister of Finance is authorized to issue money orders or guarantees these amounts for the payment of checks ".wabrz force it" to refer to the financial budget for 2015 schedules no indication of the amounts owed by Iraq paid to oil companies ".mattabra it" large sums of money and a huge on Iraq that paid " .

And the effect that "the Finance Committee found in Mrajatha central bank and inquire about the amount of exported oil and found a large quantity exporter of oil without prices" .opalastfassar of Dhahran Bank "one of the contract signed with the oil companies, the terms of the licensing round, gives the Ministry of Oil validity oil grants to companies without limiting prices or oil licenses granted in return for "Stressing that" oil is the property of the Iraqi people "tours.

He said in effect that one criticism of the budget is that it "was built according to the old system, a (budget items) in all countries of the world to adopt their budgets on the basis of (budget programs) and this the wrong way, followed by Iraq in the preparation of the financial budget" .


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