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$ 56 a barrel of oil in the 2020 budget
Economy News - Baghdad
The reform decisions taken by the resigned Iraqi government headed by Adel Abdul Mahdi led to an increase in financial expenditures in the budget for the year 2020 to more than 10 trillion dinars in the next year's budget due to the employment of thousands and the referral of a large number of employees to retire and others, as the financial deficit reached 48 trillion after Increase the price of oil in the budget from $ 53 to $ 56.
And the transfer of the "Iraqi 24 " website from sources he described as "well-informed" in the Ministry of Finance and the Parliamentary Finance Committee, "The general conditions in Iraq contributed to the delay in sending the draft budget law, due to the reform decisions of the resigned Iraqi government, which led to increased financial expenditures of more than 10 trillion dinars."
Noting that "the planned deficit is still in violation of the Financial Management Law, which occurred in the fourth paragraph of Article Six, that the planned financial deficit does not exceed 3% of the gross domestic product."
She emphasized that the planned financial deficit in the budget for next year reached 19% of the gross domestic product, which currently stands at 48 trillion dinars, while the gross domestic product amounts to 253 trillion dinars, "indicating that" the Iraq crisis is long and the Minister of Finance or his representative will resort to issuing uncles For ministries and state departments, the disbursement includes 1/12 or less of the total actual expenditures of current expenditures for the previous fiscal year after excluding non-recurring expenditures on a monthly basis and until the approval of the federal public budget in accordance with Article 13 of the Financial Management Law.
The informed sources noted that "the interest of the Kurds is represented in the failure to approve the next financial budget bill because the Finance Ministry continues to transfer funds to the Kurdistan region, which amounts to 455 billion dinars per month as a result of the majority of deputies refusing to pass the agreement concluded by the resigned government with Erbil."
On the other hand, a member of the Finance Committee, Naji Al-Saeedi, said that the draft budget budget for the year 2020 is still with the Council of Ministers, to reduce the fiscal deficit, by raising oil prices, pressure on financial expenditures, and increasing revenues, "noting that" the planned financial deficit at the beginning of a project The budget was 81 trillion dinars and now it reached 48 trillion dinars. ”Al-Saeedi added that the price of oil in the budget rose from $ 53 to $ 56, noting that“ the resigned government failed to find new financial revenues or work from the extent of corruption in the customs that will provide the state 8 trillion dinars annually.
A member of the Finance Committee mentioned the share of the Kurdistan region in the next budget is 12.7%, "excluding the implementation of the agreement concluded between Baghdad and Erbil in the budget for the next year, noting that Iraq will pay the amount of 18 trillion dinars in debt dues and benefits to international organizations and countries with a budget next year."
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