Baghdad cuts the share of Kurdistan from the budget to 12.67%

Baghdad cuts the share of Kurdistan from the budget to 12.67%

2017-10-31

Baghdad cuts the share of Kurdistan from the budget to 12.67 percentThe total value of Iraq’s general budget for 2018 amounted to 85.33 trillion dinars (71.65 billion dollars), with a deficit of 22.78 trillion dinars (19.13 billion dollars).

An Iraqi economist said earlier that the budget would not exceed 110 trillion dinars (92.285 million dollars), the government allocates 20% of the projects for the reconstruction of liberated areas of Dahesh.

The documents of draft draft law of the Iraqi general budget for 2018, the share of the Kurdistan Region of the total budget 12.67%, allocated for current expenditures and investment projects in the provinces of the region.

The taxes on income and wealth in this budget reached about $ 4.5 trillion. The commodity taxes and production fees reached 2.68 trillion dinars, and the budget share of the public sector profits was 927 billion dinars.

The documents showed that the budget included the price of $ 43.4 per barrel of oil, with a production capacity of 3.89 million barrels, to top oil revenues and mineral wealth revenues close to 73 trillion Iraqi dinars.

“The budget for 2018 is aimed at maximizing non-oil resources,” said Mazhar Salih, the financial advisor to the Iraqi prime minister. He said the country’s intention is to encourage employment through the private sector, to develop programs to lend young people with soft loans and to be able to engage in the labor market.

He described Iraqi Prime Minister Haider Abadi, the next budget as “austerity”, directed to reduce government expenditures for presidencies and ministries, and to secure wages and salaries of state employees.

burathanews.com