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Oil Minister: 2016 budget estimates reasonable exports and avoid economic collapse
2015/10/19
[Baghdad-where]
counting Oil Minister Adel Abdul-Mahdi, building the financial budget for 2016 estimates the export of 3.6 million barrels per day of crude to "reasonable and avoid economic collapse."
Said Abdul-Mahdi said in a statement received by the agency all of Iraq [where] a copy of it, that "the Council of Ministers approved on Sunday the budget in 2016, and there are a lot of notes and some are very important such as the lack of final accounts, and it is still the allocations and the terms of lacking goals that can be cross-holdings of financial instruments budget and monetary and economic and driven in the public and private sectors, and it had been built and will be applied in accordance with the laws and regulations obsolete eat forever them and drink in most of its applications and its buildings and its goals.
"He added," Despite all should give thanks and congratulations to the Ministry of Finance and its Minister on the extraordinary effort made to provide balance and success in passing First, take into account the timing, success in the preparation of the budget on schedule [October] in conditions very difficult in terms of intensity and financial pressures of war and the burden of financial units and citizens and their needs. "
He continued, "Second in realism enjoyed by, with some exceptions, it did not drown herself in a fictional figures excessive and estimates rejoices by everyone today, to Asdmoa and discover the hard facts throughout the year, and the other in the cuts conducted in several paragraphs, while maintaining the general acceptable balance, and so on.
"said Abdul-Mahdi," The estimates on oil exports Built the daily average of 3.6 million barrels, the price of the daily average of $ 45 a barrel, any 69.773 trillion dinars, and the non-oil resources of $ 13.671 trillion dinars, and so will be the total planned imports 83.444 trillion dinars.
"He added," The expenses of all its doors, reaching 106.172 trillion dinars, any deficit reach 22.727 trillion dinars, and allocated operating budget 76.579 trillion dinars and investment budget 29.593 trillion dinars.
"The oil minister said that" the Council of Ministers has made some minor changes that will not modify much of the above figures, There is no doubt that the House will in turn further amendments.
"He" We believe that realistic resource estimates may even be conservative a little bit, and this is a good thing, Valmadl daily price per barrel for 2015 until the end of September was $ 48.157 per barrel, and estimates of the overwhelming analysts majority refers to the stability of oil prices or even increased slightly in 2016 for many reasons, the most important the natural increase of the consumption, lower global production in the United States and predicted landing more, and the prospect of increased US interest rates, and some improvement that may appear in the European and Asian economies.
"He continued, Minister of Oil" As oil exports estimate it is realistic too, Valmadlat raised are the rates at which we achieve now Whether from the southern ports or from Ceyhan, and will ask means that the exports of the region may not reach the treasury, and his answer that the payment to the province -hsp law Almoisnh- will be reduced in the same proportion, and no doubt that the lack of full export delivery, lack of full dues payment is harmful and distressing practice reflects a great imbalance in national relations, we all have responsibilities, either non-oil imports may be where some optimism, especially in the door levies ".
He said," If our word is true, we can say that resources are almost certain sufficient to cover operating expenses, thus to wear off that concern, or those rumors of collapse economic potential, or that the difficult financial situation will touch people in their livelihoods and living core, either with regard to the budget investment, which increases its figures a little bit about the deficit numbers, which is supposed to be repaid through loans, there are several observations.
"He explained," First, he is normal to be repaid investments through borrowing, the problem is not even the possibility of loans repaid. This in turn depends how Rushd and productivity of investment projects and the maintenance and perpetuation, government investment is in the past, but the past decades, remained proportions implementation too low, and was the source of many questions about the wastage and the timing and cost her and quality, both available their money through government imports or by borrowing. "
"The overall state businessman failed, so we wish to include budget 2016 principles and materials launches investment from outside Tires State and within them, which did not do, but sometimes stood with his face under the pretext of achieving budget additional resources, utility few great harm, so that achieved originally, and this is a big gap, and reform is not about balancing all, it is about the fact that the Ministry of Finance and the state as a whole reforms in economic philosophy, and the concomitant reforms of legislative and procedural In the FAQ and institutions of oversight and accountability will allow the launching of investment both from the public sector or the private sector ".anthy
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2015/10/19
[Baghdad-where]
counting Oil Minister Adel Abdul-Mahdi, building the financial budget for 2016 estimates the export of 3.6 million barrels per day of crude to "reasonable and avoid economic collapse."
Said Abdul-Mahdi said in a statement received by the agency all of Iraq [where] a copy of it, that "the Council of Ministers approved on Sunday the budget in 2016, and there are a lot of notes and some are very important such as the lack of final accounts, and it is still the allocations and the terms of lacking goals that can be cross-holdings of financial instruments budget and monetary and economic and driven in the public and private sectors, and it had been built and will be applied in accordance with the laws and regulations obsolete eat forever them and drink in most of its applications and its buildings and its goals.
"He added," Despite all should give thanks and congratulations to the Ministry of Finance and its Minister on the extraordinary effort made to provide balance and success in passing First, take into account the timing, success in the preparation of the budget on schedule [October] in conditions very difficult in terms of intensity and financial pressures of war and the burden of financial units and citizens and their needs. "
He continued, "Second in realism enjoyed by, with some exceptions, it did not drown herself in a fictional figures excessive and estimates rejoices by everyone today, to Asdmoa and discover the hard facts throughout the year, and the other in the cuts conducted in several paragraphs, while maintaining the general acceptable balance, and so on.
"said Abdul-Mahdi," The estimates on oil exports Built the daily average of 3.6 million barrels, the price of the daily average of $ 45 a barrel, any 69.773 trillion dinars, and the non-oil resources of $ 13.671 trillion dinars, and so will be the total planned imports 83.444 trillion dinars.
"He added," The expenses of all its doors, reaching 106.172 trillion dinars, any deficit reach 22.727 trillion dinars, and allocated operating budget 76.579 trillion dinars and investment budget 29.593 trillion dinars.
"The oil minister said that" the Council of Ministers has made some minor changes that will not modify much of the above figures, There is no doubt that the House will in turn further amendments.
"He" We believe that realistic resource estimates may even be conservative a little bit, and this is a good thing, Valmadl daily price per barrel for 2015 until the end of September was $ 48.157 per barrel, and estimates of the overwhelming analysts majority refers to the stability of oil prices or even increased slightly in 2016 for many reasons, the most important the natural increase of the consumption, lower global production in the United States and predicted landing more, and the prospect of increased US interest rates, and some improvement that may appear in the European and Asian economies.
"He continued, Minister of Oil" As oil exports estimate it is realistic too, Valmadlat raised are the rates at which we achieve now Whether from the southern ports or from Ceyhan, and will ask means that the exports of the region may not reach the treasury, and his answer that the payment to the province -hsp law Almoisnh- will be reduced in the same proportion, and no doubt that the lack of full export delivery, lack of full dues payment is harmful and distressing practice reflects a great imbalance in national relations, we all have responsibilities, either non-oil imports may be where some optimism, especially in the door levies ".
He said," If our word is true, we can say that resources are almost certain sufficient to cover operating expenses, thus to wear off that concern, or those rumors of collapse economic potential, or that the difficult financial situation will touch people in their livelihoods and living core, either with regard to the budget investment, which increases its figures a little bit about the deficit numbers, which is supposed to be repaid through loans, there are several observations.
"He explained," First, he is normal to be repaid investments through borrowing, the problem is not even the possibility of loans repaid. This in turn depends how Rushd and productivity of investment projects and the maintenance and perpetuation, government investment is in the past, but the past decades, remained proportions implementation too low, and was the source of many questions about the wastage and the timing and cost her and quality, both available their money through government imports or by borrowing. "
"The overall state businessman failed, so we wish to include budget 2016 principles and materials launches investment from outside Tires State and within them, which did not do, but sometimes stood with his face under the pretext of achieving budget additional resources, utility few great harm, so that achieved originally, and this is a big gap, and reform is not about balancing all, it is about the fact that the Ministry of Finance and the state as a whole reforms in economic philosophy, and the concomitant reforms of legislative and procedural In the FAQ and institutions of oversight and accountability will allow the launching of investment both from the public sector or the private sector ".anthy
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