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Expectations of higher Iraqi budget deficit to 30%
2015/07/16 13:26
A member of the parliamentary finance committee, Jabbar al-Abadi, the proportion of the projected deficit in next year's budget in 2016 will exceed 30%.
BAGHDAD / Obelisk: A member of the parliamentary finance committee, Jabbar al-Abadi, the proportion of the projected deficit in next year's budget in 2016 will exceed 30 %.
Abadi said the Iraqi oil imports if I stayed over the next year in 2016 as it was in the first half of this year, there will be a deficit in the budget by a large margin .
He added that in all cases there will be a deficit, but if oil prices exceeded the threshold of $ 60, as it expected it would be deficit less, explaining that the deficit ratio projected remain large and exceed 30%, under any circumstances not to put plans and precautions in light of fluctuating oil prices .
The MP pointed out that the Parliament in this matter can not be resolved shortly, and there was supposed to be other revenues such as taxes and customs, as well as investment and the private sector revenues .
He stressed the need for limiting the extent possible, the necessary expenses. The National Oil Company (SOMO) of the Ministry of Oil announced, last Thursday, for the export of more than 529 million barrels, sales exceeded $ 26 billion in the first half of the year 2015 .
At this rate of sales and imports of Iraqi oil under the drop in world crude prices, Iraq's budget for 2016 may be between 52 to 55 billion dollars if current oil prices remain between 55-64 dollars per barrel, what would befall Iraq's large fiscal deficit may exceed Estimated deficit for the current year budget ($ 25 billion) and the pressure on the costs of the war and the rest of the organization Daash operating expenses.
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2015/07/16 13:26
A member of the parliamentary finance committee, Jabbar al-Abadi, the proportion of the projected deficit in next year's budget in 2016 will exceed 30%.
BAGHDAD / Obelisk: A member of the parliamentary finance committee, Jabbar al-Abadi, the proportion of the projected deficit in next year's budget in 2016 will exceed 30 %.
Abadi said the Iraqi oil imports if I stayed over the next year in 2016 as it was in the first half of this year, there will be a deficit in the budget by a large margin .
He added that in all cases there will be a deficit, but if oil prices exceeded the threshold of $ 60, as it expected it would be deficit less, explaining that the deficit ratio projected remain large and exceed 30%, under any circumstances not to put plans and precautions in light of fluctuating oil prices .
The MP pointed out that the Parliament in this matter can not be resolved shortly, and there was supposed to be other revenues such as taxes and customs, as well as investment and the private sector revenues .
He stressed the need for limiting the extent possible, the necessary expenses. The National Oil Company (SOMO) of the Ministry of Oil announced, last Thursday, for the export of more than 529 million barrels, sales exceeded $ 26 billion in the first half of the year 2015 .
At this rate of sales and imports of Iraqi oil under the drop in world crude prices, Iraq's budget for 2016 may be between 52 to 55 billion dollars if current oil prices remain between 55-64 dollars per barrel, what would befall Iraq's large fiscal deficit may exceed Estimated deficit for the current year budget ($ 25 billion) and the pressure on the costs of the war and the rest of the organization Daash operating expenses.
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