MAJOR PROBLEMS IN NEXT YEAR’S BUDGET
MAJOR PROBLEMS IN NEXT YEAR’S BUDGET
29 October 2013
Expected to head the Finance Committee in the House of Representatives Haider Abadi, the late arrival of the draft budget law in 2014 to the Council to contain the problems in the financial structure, revealing that the discussions of the Ministerial Committee for examining details of the budget continues. expressed Abadi hoped the arrival of the budget to the House of Representatives before the holiday legislative and end General in accordance with the Constitution, the likely delay in arrival and استغراقها in the discussions to the next year, which is unwelcome to overlap with the campaign because it will affect ordinary citizens and affect the activity of the state in general and enters the bargains. indicate preliminary figures that the amount of the budget amounted to 174 trillion Iraqi dinars with deficit of nearly 30 trillion Iraqi dinars. Ebadi said, “that the budget lacked the revenues of the Kurdistan region which amounts to about a quarter million barrels for this year at least, pointing out that last year declined to the province for export at the time of taking its share of the full budget of 17 percent.” and between ” The preliminary figures for the deficit estimated at 30 trillion dinars, an amount that huge can not be covered especially if the decline in oil prices, while continuing to export from Iraq because of expectations of a decline in the rate of global economic growth and thus reduced demand for oil and lower prices. ” said Abadi said The Ministry of Finance did not pan out in the preparation of the draft budget because it is inflated and amounted to 174 trillion dinars, while the maximum figures were 154 trillion dinars, ie, that there are 20 trillion extra, as is known, the reduction in such cases is difficult because any party will not be satisfied by reducing allocations and therefore we will be in front of a large deficit.
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