Finance: next year's budget will be unconventional

Finance: next year's budget will be unconventional



Undersecretary of the Ministry of Finance, Maher Johan Hammad
 
23/10/2019

Economy News - Baghdad:

The Ministry of Finance, on Wednesday, that the budget law for next year, which has achieved advanced stages in its discussion, in which the ministry did not adopt a fixed price per barrel of oil so far, and by the daily export of three million and 800 thousand barrels, the share of the region of 250 thousand barrels.

The Undersecretary of the Ministry Maher Hammad Johan said in a statement reported by the official newspaper "morning" and seen by "Economy News", 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."

Johan added that the budget under consideration will last between four and five stages to reach its final destination, pointing out 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.

He explained, "The law of fiscal budget for 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, 250 thousand barrels per day "He pointed out that" the financial budgets, each of which has a certain specificity, and therefore the House of Representatives may put any other wording that modifies the direction of the share of the Kurdistan region of oil produced there, or any other amendment in its law. "

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