Iraqi Ministry of Finance announces good news in 2020 budget

Iraqi Ministry of Finance announces good news in 2020 budget

2019-10-23 06:40:46

Iraqi Ministry of Finance announces good news in 2020 budgetThe Ministry of Finance disclosed that the budget law for next year, which has achieved advanced stages of discussion, has not adopted a fixed price per barrel of oil so far, and the daily export of three million and 800 thousand barrels, the share of the Kurdistan region of which 250 thousand barrels, confirming the keenness of all parties To adopt the next budget, provide services, compensation and salaries to citizens to contribute to improving the living and economic conditions of the country.

The semi-official newspaper quoted the Undersecretary of the Ministry Dr. Maher Hammad Johan as saying that the budget for next year 2020, will be unconventional, as it relied mainly on the provision of services and the needs of citizens across the country, stressing that it is under study and will last between four to five stages To reach its final destination, noting that its basic idea, depends on how to provide the necessary funding to meet the needs of citizens and compensation and salaries, in addition to the success of the government program of the State.

He added: that the budget law for the next year, has not yet adopted, a fixed price for Iraqi oil exporter, but there are proposals submitted adopt a price ranging from 50 to 56 dollars per barrel, including oil allocated from the Kurdistan region of Iraq and 250 thousand barrels per day, indicating That the financial budgets, each of them a certain specificity, and therefore the House of Representatives may put any other amendment to modify the direction of the share of the Kurdistan region of oil produced there, or any amendment

Another in its code.

On the mechanism of filling the deficit in the current budget 2019, Johan disclosed that part of it was addressed through loans in the original budget, the other part was through the cash already available in the Ministry of Finance, while part of the deficit will remain until the end of this year, will be on Account for reducing expenditures on everyone, noting that the fiscal deficit for next year’s budget is unclear

Landmarks yet.

He promised government banks in the country, one of the tools of the state to solve any financial forms, whether to pay the deficit or even revitalize the economic movement in the country, but its potential remains limited by the amount of funds available to them, pointing out that the state has used a large part of it during the past years, indicating Given the situation in the country, any amount offered by banks to the state transparently will be part of the country’s ongoing economic reform and growth.