Political agreement on the distribution ratio of oil revenues among citizens

The parliamentary Finance Committee announced the existence of an agreement between the political blocs to allocate 25 per cent of the surplus sale and distribution of oil and between citizens.

A member of the Committee, Haitham al-Jubouri said “there is a consensus within the Finance Committee on the introduction of a proposed Liberal bloc to allocate funds within the budget surplus distributed to the people,” noting that “the Finance Committee is considering the request now and Stdmenh in the draft budget.”

The House of Representatives ended yesterday the first to discuss the report of the federal budget for 2013 prepared by the Finance Committee. And the voice of the Council of Ministers at its forty-sixth regular on 23 October 2012, a bill the federal budget for 2013 of $ (138) trillion dinars, an increase of 18% from last year.

According to the project that the total federal income amounted to (119.3) trillion dinars were the result of calculation of income from export of crude oil at an average price (90) dollars per barrel and export capacity of up to (2.9) million barrels per day, including the quantity produced and exported from the Kurdistan region of the ( 250) thousand barrels per day.