2016 budget: the allocation of more than 30 trillion dinars for the development projects of the regions and the petro-dollar

by **Ssmith** Sun Sep 20, 2015 3:50 pm

2016 budget: the allocation of more than 30 trillion dinars for the development projects of the regions and the petro-dollar

9/20/2015

Baghdad-where] 2016 draft budget allocated according to the Ministry of Finance more than 30 trillion dinars for regional development projects Of this amount, 1.7 trillion of oil-producing provinces as part of the petro-dollar project.

The draft law submitted by the Ministry of Finance last week to the Council of Ministers "to allocate 1 trillion and 747 billion and 762 million dinars for the reconstruction and development of the regional and provincial projects, including the Kurdistan region to be a customization according to the population of each province." According to the draft, "Van to maintain provision of age plan the province and districts, counties affiliate ratified by the provincial council, depending on the set of plans by the provincial council and respects to the Federal Ministry of Planning for the purpose of examination and approval.

"She pointed out that" takes into account the most affected in the province areas plans and that the distribution of the province on the case and the areas of specialization associated according to population ratios after excluding strategic projects that more than a hand or spend a benefit that does not cost the new strategic projects of more than 20 percent of the province allocations.

"Remember, the draft budget that" The governor strictly implement the approved reconstruction plan and the provincial council responsible for monitoring implementation. "
and it puts the budget bill plan for the implementation of previous resolutions on the 5 dollars to the provinces producing oil.
has stated that depends amount equal to $ 2 for every barrel of crude oil Manantj in the province and $ 2 per barrel of crude oil refined in refineries to maintain and $ 2 for each 150 cubic meters of natural gas in the province.

"He also law states that" allocates $ 1 trillion and 752 billion and 238 million dinars as projects to the provinces and territories from producer out of allocations referred to in Article 2 of the law and the governor after the provincial council authentication right to dispose of and use what including no more than 50 Symbols of disciplines mentioned for the purpose of importing electric energy or the provision of services to maintain and cleaned and ongoing expenses, according to the needs of the province.
"and ordered a draft budget," the Ministers of Finance and Planning Law Add the remaining amount which is 1 trillion and 752 billion and 238 million Danaraly conservative budget at check an increase in crude oil rates Source coordination with the province concerned.

"The law also stipulates that" the accounting adjustments made after the measures implemented by the Federal Office of Financial Supervision in the budget of the following year for the purpose of securing a difference of $ 3 for the remainder of the share of each province produced ".

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