Cabinet votes on the 2018 budget in the “lowest deficit”
Cabinet votes on the 2018 budget in the “lowest deficit”
2017/11/5 12:33
[Ayn-Baghdad]
The Cabinet will hold on Sunday, an extraordinary session is likely to vote on the draft budget bill for 2018.
The Secretariat of the Council of Ministers said in a statement last Friday that “the financial budget for 2018 is still in the process of discussion and discussions to reach the final version, which will be voted by the Council of Ministers very soon and that the copies circulating in the media is inaccurate and untrue.
She added that “next Sunday [today] will be a meeting of the Council of Ministers dedicated to discuss the budget in its final form and vote on it.”
“The Secretary-General of the Council of Ministers held a meeting of directors of the departments of financial departments in the ministries to review the law of the financial budget.”
The statement added, “Ayna, a copy of the statement that the” participated in the meeting organized by the secretariat with the directors of the financial departments in the ministries to review the numbers of ministries in their final stages. ”
The Secretary-General of the Council of Ministers stressed that “the need to limit expenditures to the minimum, because of the continued decline in state revenues as a result of the deterioration of oil prices in the global market,” stressing that “the Council of Ministers seeks to reduce the budget deficit to the lowest degree.”
The statement pointed out that the meeting “witnessed a final discussion of the origin of the provisions contained in the General Budget Law, setting priorities and reforming, and concluded to record a set of observations on the legal formulations of the law and submitted to the Secretary-General of the Council of Ministers, in order to deliver them to the Council of Ministers at its session.
Some media published a few days before the draft bill of the budget of 2018, revealed the value of the total and deficit ratio, in addition to reducing the proportion of the Kurdistan region.
According to the draft, the total revenue was estimated at 5 trillions and 331 million dinars at 43.4 dollars per barrel of oil, with a production capacity of 3 million and 888 thousand barrels, including about 73 trillion dinars of oil revenues.
She pointed out that the total expenditure estimated at 108 trillion and 113 million and 913 thousand and 506 dinars, while the budget deficit amounted to about 22 trillion and 782 million and 913 thousand and 506 dinars, while the share of the Kurdistan region to 12.67% only after it was 17%.
The draft said that the budget was based on the rate of export of oil of 3 million and 800 thousand barrels per day, including 250 thousand barrels of oil in the Kurdistan region, and 300 thousand barrels of Kirkuk oil, and on the basis of the price of a barrel is estimated at almost $ 43, Is the largest supplier of the budget.
He pointed out that the share of the Kurdistan region was developed according to the souls of each province of the region, and when any increase or decrease in the total expenditures of the federal budget will add or decrease the share of the provinces of the region proportionate with the increase or decrease.
alliraqnews.com
