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Parliament declares the fixed pricing of oil
Saturday, 19 September, 2015
Proposed member of the Finance Committee in Parliament MP Masood Haider, said Friday that an estimate is the price of a barrel of oil in the budget of 2016 dollars to 40 by three million barrels per day, and as pointed out that the security and defense sector identified a higher proportion of the budget, he stressed that industries non-oil not provided the budget in line with the reform plan.
Haider said, that “the government’s estimate of the price of a barrel of oil in the budget in 2016 to 40 dollars instead of 45, with the amount of export estimate by three million barrels a day, so that oil revenues become a $ 43.8 billion difference of 18 trillion dinars (ie 27%) for number theory in draft law. ”
He added that “the security and defense sector identified a higher proportion of the budget and then come to the oil sector and beyond of Education and Health and education, and this is what raises questions that the agricultural sector and tourism industries non-oil has not allocated in line with the reform plan the budget.”
The Ministry of Finance announced on Tuesday (15 September 2015), all presented a draft 2016 budget law to the Council of Ministers, and the estimated average oil price in the 2016 budget to $ 45 and the export of 3.6 million barrels per day, as pointed out that budget revenues will amount to more than 84 trillion and 73 billion dinars.
The decline in oil prices a big problem for Iraq, which relies on oil revenues, mainly as a source of income at a time when facing major internal challenges of Baktale with organizing “Daash” and the need to provide the necessary basic services funds, which suffers from a significant shortage.
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Saturday, 19 September, 2015
Proposed member of the Finance Committee in Parliament MP Masood Haider, said Friday that an estimate is the price of a barrel of oil in the budget of 2016 dollars to 40 by three million barrels per day, and as pointed out that the security and defense sector identified a higher proportion of the budget, he stressed that industries non-oil not provided the budget in line with the reform plan.
Haider said, that “the government’s estimate of the price of a barrel of oil in the budget in 2016 to 40 dollars instead of 45, with the amount of export estimate by three million barrels a day, so that oil revenues become a $ 43.8 billion difference of 18 trillion dinars (ie 27%) for number theory in draft law. ”
He added that “the security and defense sector identified a higher proportion of the budget and then come to the oil sector and beyond of Education and Health and education, and this is what raises questions that the agricultural sector and tourism industries non-oil has not allocated in line with the reform plan the budget.”
The Ministry of Finance announced on Tuesday (15 September 2015), all presented a draft 2016 budget law to the Council of Ministers, and the estimated average oil price in the 2016 budget to $ 45 and the export of 3.6 million barrels per day, as pointed out that budget revenues will amount to more than 84 trillion and 73 billion dinars.
The decline in oil prices a big problem for Iraq, which relies on oil revenues, mainly as a source of income at a time when facing major internal challenges of Baktale with organizing “Daash” and the need to provide the necessary basic services funds, which suffers from a significant shortage.
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