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Federal Finance: Distribution of surplus oil revenues to citizens will not be this year
15/05/2012 17:35
Erbil, May 15 / May (Rn) - Undersecretary of the Federal Ministry of Finance, said on Tuesday that the amounts which had been scheduled disbursement of the increase in oil prices and exports of Iraqi citizens will not be issued during the current year.
According to one of the terms of Iraq's budget public in 2012 that "if the high price of oil for more than $ 85 a barrel, the amount of surplus from going forward will be distributed to citizens, but the Ministry of Finance confirmed then that the accounts and the value of the deficit and the surplus will be seen after a month in June next.
Fadel said the Prophet, told the Kurdish news agency (Rn) that "the Ministry of Finance will be able during the month of July next account difference in prices and increase Iraq's oil exports," he said, that "at that time will determine the value of the increase in fiscal revenue of oil, and until this moment There are no new information about the distribution of financial increases oil exports to citizens. "
"The item budget, the distribution of part of the oil revenue to citizens has been formulated with a complex, and going forward painted on the basis of the arrival rate of Iraq's oil exports to 2.6 million barrels a day, but this did not happen, as it arrived in Iraq's oil output during the previous months, except for the last month, 2.2 million barrels a day. "
And the prophet that "this year will see the value of the distribution of surplus amounts of the budget on the citizens, despite high oil prices, currently, as it will be a surplus of a little citizen will not be able to take advantage of it if Kmbalg cash distribution."
And select the Iraq sale price of oil in the budget for the year 2012 the current B (85) $ per barrel, while sold Iraqi oil currently in the global markets by more than (100) $ per barrel, and that there are additional amounts for each barrel of oil sold an estimated (35-40 ) dollars. "
And approved the Iraqi government in its emergency meeting in (05/12/2011) budget in 2012 by $ 100 billion (about 117 trillion Iraqi dinars) and a deficit of up to $ 13.5 billion (about 17 trillion dinars), while approved by the Iraqi Council of Representatives on 23 February / last February after being held by a number of changes, notably raising the social benefits after a long series of talks.
From: Sarbaz favor, see: Joseph Karwan
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15/05/2012 17:35
Erbil, May 15 / May (Rn) - Undersecretary of the Federal Ministry of Finance, said on Tuesday that the amounts which had been scheduled disbursement of the increase in oil prices and exports of Iraqi citizens will not be issued during the current year.
According to one of the terms of Iraq's budget public in 2012 that "if the high price of oil for more than $ 85 a barrel, the amount of surplus from going forward will be distributed to citizens, but the Ministry of Finance confirmed then that the accounts and the value of the deficit and the surplus will be seen after a month in June next.
Fadel said the Prophet, told the Kurdish news agency (Rn) that "the Ministry of Finance will be able during the month of July next account difference in prices and increase Iraq's oil exports," he said, that "at that time will determine the value of the increase in fiscal revenue of oil, and until this moment There are no new information about the distribution of financial increases oil exports to citizens. "
"The item budget, the distribution of part of the oil revenue to citizens has been formulated with a complex, and going forward painted on the basis of the arrival rate of Iraq's oil exports to 2.6 million barrels a day, but this did not happen, as it arrived in Iraq's oil output during the previous months, except for the last month, 2.2 million barrels a day. "
And the prophet that "this year will see the value of the distribution of surplus amounts of the budget on the citizens, despite high oil prices, currently, as it will be a surplus of a little citizen will not be able to take advantage of it if Kmbalg cash distribution."
And select the Iraq sale price of oil in the budget for the year 2012 the current B (85) $ per barrel, while sold Iraqi oil currently in the global markets by more than (100) $ per barrel, and that there are additional amounts for each barrel of oil sold an estimated (35-40 ) dollars. "
And approved the Iraqi government in its emergency meeting in (05/12/2011) budget in 2012 by $ 100 billion (about 117 trillion Iraqi dinars) and a deficit of up to $ 13.5 billion (about 17 trillion dinars), while approved by the Iraqi Council of Representatives on 23 February / last February after being held by a number of changes, notably raising the social benefits after a long series of talks.
From: Sarbaz favor, see: Joseph Karwan
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