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Oil Minister: 2016 budget will be limited to the payment of employees and retirees and the owners of contracts salaries
10/14/15
BAGHDAD / Sky Press: guessed Iraqi Oil Minister Adel Abdul-Mahdi, to devote financial resources of the Federal public budget in Iraq for the next year amounting to about 84 trillion Iraqi dinars to fill state employees and retirees pay requirements and the owners of the contracts due to low oil prices in the global market.
Abdul-Mahdi said in a press statement, said that "the number of employees in the Iraqi state who earn salaries directly reached seven million citizens between the employees and retired contractor and a member of its companies, representing more than 20 percent of the population of the country."
He added that "the Iraqi budget crisis is the presence of severe sagging at state functions and in retirement Affairs, subsidies and care so that the state has become a welfare state, not a public service to that strain the budgets of the state, including the so-called direct and indirect operating expenses."
He said he will be "operating expenses up to 80 trillion dinars out of the total amount of the budget amounting to 84 trillion Iraqi dinars in the budget of 2016 would be equivalent to almost the total resources of the budget / except deficit / and derived from the adoption price of $ 45 per barrel of oil and the rate of export 3.0006 million barrels per day in addition to the almost 14 trillion of imports taxes and the proceeds of the other country. "
The Iraqi minister said he had "nothing to invest will not stay in the general budget but to adopt policies of borrowing and deficit and inflation through the currency exchange rate As for the operating expenses we believe the possibility of reducing the excessive height of some damage, but to take advantage of, in part, in the current economic circumstances."
Iraq and many countries in the world is witnessing an economic crisis, as a result of falling oil prices, the global stock market, below $ 48 a barrel, after it was $ 110.
Iraq relies, by 85%, on oil as well as Iran and Russia Almtdharran biggest with Iraq in lower prices, as a result, the Iraqi government was forced to announce, an austere operations, in general in the country in an attempt to fill the budget deficit, as well as the government announced Iraq, reducing the Council of Ministers' salaries 50%.
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10/14/15
BAGHDAD / Sky Press: guessed Iraqi Oil Minister Adel Abdul-Mahdi, to devote financial resources of the Federal public budget in Iraq for the next year amounting to about 84 trillion Iraqi dinars to fill state employees and retirees pay requirements and the owners of the contracts due to low oil prices in the global market.
Abdul-Mahdi said in a press statement, said that "the number of employees in the Iraqi state who earn salaries directly reached seven million citizens between the employees and retired contractor and a member of its companies, representing more than 20 percent of the population of the country."
He added that "the Iraqi budget crisis is the presence of severe sagging at state functions and in retirement Affairs, subsidies and care so that the state has become a welfare state, not a public service to that strain the budgets of the state, including the so-called direct and indirect operating expenses."
He said he will be "operating expenses up to 80 trillion dinars out of the total amount of the budget amounting to 84 trillion Iraqi dinars in the budget of 2016 would be equivalent to almost the total resources of the budget / except deficit / and derived from the adoption price of $ 45 per barrel of oil and the rate of export 3.0006 million barrels per day in addition to the almost 14 trillion of imports taxes and the proceeds of the other country. "
The Iraqi minister said he had "nothing to invest will not stay in the general budget but to adopt policies of borrowing and deficit and inflation through the currency exchange rate As for the operating expenses we believe the possibility of reducing the excessive height of some damage, but to take advantage of, in part, in the current economic circumstances."
Iraq and many countries in the world is witnessing an economic crisis, as a result of falling oil prices, the global stock market, below $ 48 a barrel, after it was $ 110.
Iraq relies, by 85%, on oil as well as Iran and Russia Almtdharran biggest with Iraq in lower prices, as a result, the Iraqi government was forced to announce, an austere operations, in general in the country in an attempt to fill the budget deficit, as well as the government announced Iraq, reducing the Council of Ministers' salaries 50%.
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