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Think about new financial balance and cancel billions of dollars of expenses
Saturday, November 22, 2014
Baghdad newspaper probity – revealed Prime Minister Counsellor for Economic Affairs Mohammad Saleh appearance that the Government would start discussing the draft law on budget for the year beginning December 2015 to set up in a manner proportionate to the circumstances and the security and economic challenges.
The Government will move toward the u.s. current expenditures that were costing the federal budget annually approximately 45 billion dollars. He noted that the budget for the year 2014 data will be presented to Parliament with the budget next year.
The parliamentary legal Committee, confirmed that the Government had decided to calculate the price of a barrel of oil up 80 dollars in the next budget, warning of higher prices amid a crisis in the oil market.
Mohammad Saleh appearance says, economic adviser to the Prime Minister, "the Finance Ministry is preparing a draft law on budget for the year 2015 in accordance with the law of the financial management of the public debt No. 95 of 2004 outlining concepts of any balancing".
Article (6) of the law of public debt and. The Ministry of finance prepares the federal budget plans for economic development and the pursuit of macroeconomic stability and economic policy and applicable laws and regulations, taking into account the desire needed to ensure the strengthening of the financial situation of Iraq, reduce volatility in government expenditure, and the accumulation of total income taking into account in particular the wise and moderate forecasts of oil prices and petroleum products tax and customs revenues.
He adds that "balancing next year toward reducing current expenditures/Iraq's and some of the projects in which significant financial burdens while raising some other exports outside oil sector and address the expected shortfall".
And explain the expert, economic adviser for the late adoption of the budget for the year 2015 in the Council of Ministers (the existence of problems and security conditions in Iraq), said the presence of exigent circumstances facing adoption of the federal budget for next year weakhretha including falling world oil prices and oil producers and exporters as well as the challenges of terrorism. "
And see that "budget next year will be the return of financial thought Iraq under difficult circumstances and of the challenges facing terrorism and low oil prices."
And economic advisor to the Prime Minister that "the Ministry of finance did not specify the oil prices will depend for next year's budget as well as oil exporters," likely "convert jobs this year to the next budget."
Oil Minister Adel Abdul Mahdi said, while hosted by the House, that the price of oil is calculated in the construction budget to 2015 80 dollars a barrel.
And Abdul Mahdi Iraqi economy improved performance with the right guidance to financial resources through pressure unnecessary expenses.
Saleh noted that the "salaries and wages costs the State budget approximately $ 45 billion annually, as well as consumer spending, such as petty cash, cars, testimony, and other services, and up to 45 billion dollars."
The Economist expressed regret that the fiscal policy followed during the past years of current expenditures are paid obscene and large.
And finds that "the expansion of the financial budgets for the financial period was an unreasonable expansion, which included the ongoing consumer expenditures strained budgets by large amounts."
Salih notes that "recent agreement with KRG will address many of the problems of the budget relating to the raising, production and export and marketing of oil to world markets," predicting that "the discussion of the budget in the next month inside the Cabinet and sent to Parliament".
And the Federal Government and the Kurdistan Regional Government Iraq agreement provides for the conversion of the Federal Government of $ 500 million in Exchange for a commitment by Arbil (150) thousand barrels of crude oil per day at the disposal of the Federal Government.
But economic adviser to Prime Minister Martin thinks that a federal budget is subject to complete agreements with the Kurdistan Regional Government and addressing differences oil fully. "
Maybe that "investment budget will focus on important investment projects and projects reluctant", predicting that "the data are balancing 2014 with next year's budget to the House of representatives."
In the same vein, the Secretary Baker, MP for mass change of Kurdistan, "the intention of the Federal Government to calculate the price of oil in next year's budget by $ 80."
Baker shows that "the Council of Ministers will send the 2015 budget to Parliament before the end of the year for its legislation on time," Noting that "the trend is to reduce consumer expenditure in order to control the deficit projected in the budget. The legal Committee member explains that "causes or calculated oil price 80 $ to cover the deficit and power through the equation between expenditure and revenue," but acknowledges that "the adoption of this price is risky because of the decline in world oil prices."
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Saturday, November 22, 2014
Baghdad newspaper probity – revealed Prime Minister Counsellor for Economic Affairs Mohammad Saleh appearance that the Government would start discussing the draft law on budget for the year beginning December 2015 to set up in a manner proportionate to the circumstances and the security and economic challenges.
The Government will move toward the u.s. current expenditures that were costing the federal budget annually approximately 45 billion dollars. He noted that the budget for the year 2014 data will be presented to Parliament with the budget next year.
The parliamentary legal Committee, confirmed that the Government had decided to calculate the price of a barrel of oil up 80 dollars in the next budget, warning of higher prices amid a crisis in the oil market.
Mohammad Saleh appearance says, economic adviser to the Prime Minister, "the Finance Ministry is preparing a draft law on budget for the year 2015 in accordance with the law of the financial management of the public debt No. 95 of 2004 outlining concepts of any balancing".
Article (6) of the law of public debt and. The Ministry of finance prepares the federal budget plans for economic development and the pursuit of macroeconomic stability and economic policy and applicable laws and regulations, taking into account the desire needed to ensure the strengthening of the financial situation of Iraq, reduce volatility in government expenditure, and the accumulation of total income taking into account in particular the wise and moderate forecasts of oil prices and petroleum products tax and customs revenues.
He adds that "balancing next year toward reducing current expenditures/Iraq's and some of the projects in which significant financial burdens while raising some other exports outside oil sector and address the expected shortfall".
And explain the expert, economic adviser for the late adoption of the budget for the year 2015 in the Council of Ministers (the existence of problems and security conditions in Iraq), said the presence of exigent circumstances facing adoption of the federal budget for next year weakhretha including falling world oil prices and oil producers and exporters as well as the challenges of terrorism. "
And see that "budget next year will be the return of financial thought Iraq under difficult circumstances and of the challenges facing terrorism and low oil prices."
And economic advisor to the Prime Minister that "the Ministry of finance did not specify the oil prices will depend for next year's budget as well as oil exporters," likely "convert jobs this year to the next budget."
Oil Minister Adel Abdul Mahdi said, while hosted by the House, that the price of oil is calculated in the construction budget to 2015 80 dollars a barrel.
And Abdul Mahdi Iraqi economy improved performance with the right guidance to financial resources through pressure unnecessary expenses.
Saleh noted that the "salaries and wages costs the State budget approximately $ 45 billion annually, as well as consumer spending, such as petty cash, cars, testimony, and other services, and up to 45 billion dollars."
The Economist expressed regret that the fiscal policy followed during the past years of current expenditures are paid obscene and large.
And finds that "the expansion of the financial budgets for the financial period was an unreasonable expansion, which included the ongoing consumer expenditures strained budgets by large amounts."
Salih notes that "recent agreement with KRG will address many of the problems of the budget relating to the raising, production and export and marketing of oil to world markets," predicting that "the discussion of the budget in the next month inside the Cabinet and sent to Parliament".
And the Federal Government and the Kurdistan Regional Government Iraq agreement provides for the conversion of the Federal Government of $ 500 million in Exchange for a commitment by Arbil (150) thousand barrels of crude oil per day at the disposal of the Federal Government.
But economic adviser to Prime Minister Martin thinks that a federal budget is subject to complete agreements with the Kurdistan Regional Government and addressing differences oil fully. "
Maybe that "investment budget will focus on important investment projects and projects reluctant", predicting that "the data are balancing 2014 with next year's budget to the House of representatives."
In the same vein, the Secretary Baker, MP for mass change of Kurdistan, "the intention of the Federal Government to calculate the price of oil in next year's budget by $ 80."
Baker shows that "the Council of Ministers will send the 2015 budget to Parliament before the end of the year for its legislation on time," Noting that "the trend is to reduce consumer expenditure in order to control the deficit projected in the budget. The legal Committee member explains that "causes or calculated oil price 80 $ to cover the deficit and power through the equation between expenditure and revenue," but acknowledges that "the adoption of this price is risky because of the decline in world oil prices."
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