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Invalid: the balance will be financed by domestic revenues or through borrowing
October 22, 2015
Baghdad/Iraq News Network-economic advisor to Prime Minister Mohammad Saleh appearance Thursday, new details of the sections of the general budget of the country for 2016 and sent to Parliament for approval. Saleh said in a statement: "the country's public budget based on the calculation of the price of a barrel of oil by 45 dollars a barrel on rising proportionally up to 52 dollars a barrel," adding that "the budget will be financed from internal revenues or By borrowing from international financial institutions will be agreed upon after negotiations. "and on the investment budget confirmed it," equivalent to 26% of the total public budget which corresponds to the budget deficit. "and on the share of Kurdistan the budget amounted, according to the statement, 17% of which would be sovereign appropriation as expenditures of embassies and public debt and the ration card and the other paragraphs constitute about 7% of total expenditure." the statement said,The budget had been prepared on the basis of Iraq's capacity to export oil at a rate of 3.3 million barrels a day, exporting all of Kurdistan and Kirkuk oil by 550 thousand barrels per day. " Stating that "2016 budget spending ceiling is 113 trillion dinars, constitute operational budget 74%, whereas investment accounted for 26%, to be funded by oil export revenues by less than 70 trillion dinars, in addition to funding from other sources accounted for 14 trillion dinars." Cabinet approved the special meeting last Sunday, federal budget bill for the fiscal year 2016
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October 22, 2015
Baghdad/Iraq News Network-economic advisor to Prime Minister Mohammad Saleh appearance Thursday, new details of the sections of the general budget of the country for 2016 and sent to Parliament for approval. Saleh said in a statement: "the country's public budget based on the calculation of the price of a barrel of oil by 45 dollars a barrel on rising proportionally up to 52 dollars a barrel," adding that "the budget will be financed from internal revenues or By borrowing from international financial institutions will be agreed upon after negotiations. "and on the investment budget confirmed it," equivalent to 26% of the total public budget which corresponds to the budget deficit. "and on the share of Kurdistan the budget amounted, according to the statement, 17% of which would be sovereign appropriation as expenditures of embassies and public debt and the ration card and the other paragraphs constitute about 7% of total expenditure." the statement said,The budget had been prepared on the basis of Iraq's capacity to export oil at a rate of 3.3 million barrels a day, exporting all of Kurdistan and Kirkuk oil by 550 thousand barrels per day. " Stating that "2016 budget spending ceiling is 113 trillion dinars, constitute operational budget 74%, whereas investment accounted for 26%, to be funded by oil export revenues by less than 70 trillion dinars, in addition to funding from other sources accounted for 14 trillion dinars." Cabinet approved the special meeting last Sunday, federal budget bill for the fiscal year 2016
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