Parliamentary Finance: continuing decline in oil prices threatens to disable items
Parliamentary Finance: continuing decline in oil prices threatens to disable items in the budget approved
17/06/2012 11:20
Baghdad, June 17 (Rn) – The Finance Committee representative, Sunday, The continued decline in oil prices in world markets threaten to disable the implementation of many of the items approved in the general budget, which relied on the surplus wealth. From the sale of oil. A member of the Church Mustafa told the Kurdish News (Rn) that “world oil prices would have dropped to less than the price calculated in the current year budget will threaten to halt the implementation of the items approved implementation based on money abundance of Finance from the sale of oil.” He explained that “low oil prices will impact significantly on the overall budget Federal and will increase the fiscal deficit. ” saw the selling prices of oil in world markets, a significant decrease represents the fall in price of a barrel to $ 30 within a period of three months and the discount price of the barrel at about $ 97. recognized Iraqi government on the fifth of November / December last year the budget in 2012 that $ 100 billion (about 117 trillion Iraqi dinars) and a deficit of up to $ 13.5 billion (about 17 trillion dinars). provides one of the items Iraq’s budget public in 2012 that “if the high price of oil to more than $ 85 a barrel, the amount of surplus from the budget be distributed to citizens, but the Ministry of Finance confirmed that the accounts and then the value of the deficit and the surplus will be seen after a month in June this month. From: Raman Brosk, the Open: Peace Baghdadi
