The estimated price of $ 60 per barrel of oil in the budget of 2016

The estimated price of $ 60 per barrel of oil in the budget of 2016

August 3, 2015

BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - A member of the Finance Committee in the House of Representatives Faleh applicable, that the Finance Ministry will build the budget for the next fiscal year 2016 to estimate the price of a barrel of oil rate of $ 60, calling on the Ministry of Finance to be careful of the risks of lower crude oil prices During the coming months.

And it estimated the federal budget for fiscal year 2015 revenues of $ 94 trillion dinars, after taking into account revenue from export of crude oil on the basis of the average price of $ 56 per barrel and the rate of export of three million and 300 thousand barrels per day.

The force's (IMN) said that "the government must take bold action to create other sources of financial revenue."

The parliamentary finance committee and identified last week, with the October next month as the date to send the 2016 budget by the federal government.

The member of the Finance Committee in the House of Representatives Faleh force that "economic challenge in oil prices continues."

The parliamentary finance committee and revealed earlier, a tendency to reduce the ministries and bodies and government agencies spending to its lowest level in order to reduce the fiscal deficit in the federal budget size.


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