Finance committee: Difficult to fund programs as oil prices drop below budget’s speculation

Recognizes the difficulty of the parliamentary financial implementation of the program of financial abundance 29/06/2012 08:57

Baghdad, June 29 (Rn) – approved the Finance Committee, the parliamentary Friday difficulty of implementation of the program that was agreed upon in the current year budget on the investment of funds availability of financial support of projects related to supporting people following a drop in oil prices in world markets.

have seen selling prices of oil in world markets declined significantly represented fall in price of a barrel to $ 30 within a period of three months and the discount price of the barrel at about $ 97.

A member of the Committee Secretary Hadi, told the Kurdish news agency (Rn) “We are in the Finance Committee discussed the issue of availability of financial and there is a program of work for the distribution of abundance, but current indications are not encouraging the We can bridge the fiscal deficit in the budget only. “

Hadi said the “firsts abundance of Finance is to bridge the deficit in the federal budget for this year and then go to the implementation of other programs abundance of Finance.”

The House passed the Iraqi federal budget for Iraq for 2012, which amounted to about $ 100 billion in February last year after that the voice of the items of $ 43.

Among the most prominent proposals that were included in the budget is to raise interest loans for citizens and employees, and disbursement of grants for a period of 6 months to pensioners who are paid a salary less than 400 thousand dinars (about $ 330), and raise the interest of banks government and private as well as the distribution of 25% of the sale of surplus oil on the citizens directly.