Iraq oil revenues spent in 7 months. And salaries of Kurdistan under the cash balance

Iraq oil revenues spent in 7 months. And salaries of Kurdistan under the cash balance

Baghdad/Al Sabah

The Finance Minister said, the Government would end the settlement of all information required to complete the outstanding balance, and payment to the House in time may be after Eid, saying that everybody want to resolve the crisis, despite Kurdistan salaries paid will be linked with the available cash balance in reference to potential financial shortfall significantly by country.

And this may explain the competent Parliamentary Committee revealed on the income and expenditure figures for the past seven months, according to data that the Government of Nouri al-Maliki spent each amount from oil revenues, although they did pay petrodollars – being free to Basra and other provinces produced and not paid balance of Kurdistan, as well as other expenses depend on the provinces that fell however, daash, indicating a significant increase in spending, and not calculated to share important mayors have been awaiting the release of funds or the salaries of its employees.

The Cabinet said in the meeting, he briefed Tuesday on figures prepared by the Ministry of Finance on Kurdistan and charged up the expected income from the export of oil and its relationship to the federal budget and decided to form a Ministerial Committee to study the financial situation and formulate priorities for basic pay in a way that does not harm the living reality of the citizen.

I got the "range" on the total numbers of financial revenues and expenditures for the first seven months of this year, showing that Iraq had spent all the money earned from oil exports, although it has not paid the dues and no amounts of petrodollars – being free for Basra and other provinces produced, and most of the financial obligations of provinces fell however, daash.

According to the President of the parliamentary Finance Committee, Magda Abdel Latif al-Tamimi, said in an interview with "the range", the Cabinet meeting held on Tuesday discussed the income and expenditure in the budget for the previous period ", adding that the next two days, which would be why extend water revenue and expenditure for the remainder of the current year, ready by the Finance Ministry.

Former House of representatives failed to approve the budget for 2014, which migrated to the new parliamentary session. Tamimi called that "it is hoped that a special meeting of the Council of Ministers (Thursday) to discuss the federal budget for the 2014" is likely the Government will hand over the federal budget to Parliament after Eid al-Adha holiday".

The "oil revenues, according to data from the Ministry of Finance of the beginning of the year to 31 July 2014 at fifty-seven trillion dinars from oil revenues, remittance income Treasury amounted to 2 trillion, two hundred and sixty-six billion" as "the non-oil revenues amounted to one trillion nine hundred and fourteen billion while revenue opening balance as at 1 January 2014 was 2 trillion nine hundred and seventy billion dinars".

The Deputy of the free block that "total income which came during the first seven months of the year totaled 64 trillion and one hundred and fifty billion dinars".

As for operational expenditure and investment, the Finance Committee Chairman said that "the investment expenditure amounted to 14 trillion, eight hundred fifty-one billion for the first seven months of the year, made only on ongoing projects, while current budget or operational forty-nine trillion and seven hundred and fourteen billion dinars".

And noted that "the Ministry of finance will work quickly to make guesses for future income and expenditure are shown in case oil prices drop as the price per barrel to $94 what will be the implications for the size of the budget.

The Finance Minister said the Agency Mohammed Sudani told to "run" it "after deliberation the initial federal budget by the Cabinet meeting on Tuesday decided to form a technical committee headed by the Ministry of finance and membership the ministries of oil, planning and the Central Bank and the General Secretariat of the Council of Ministers to discuss the budget problems.

He said the Sudanese Cabinet select the Technical Committee by one week to finish work on the budget, which will submit its recommendations to the Government proposals and the expected deficit and actions that would address the shortfall."

The Finance Minister declined to comment on the budget figures that completed his Ministry, he said, "you cannot speak any number of budget numbers (for Kurdistan and provincial expenditure and revenue) at the present time that there is a functional Commission continues and meets on a daily basis in order to reach a solution to this problem."

And on the possibility of launching Kurdistan salaries during the current period, the Minister answered that "solving this problem (salaries of Kurdistan) is part of the political agreement that will resolve this crisis, so there is a great desire, to the Council of Ministers to resolve the issue," adding that the Kurdish region has its own budget, like the provinces and ministries and this natural right.

The Government of Nouri al-Maliki has cut staff salaries in Iraqi Kurdistan since February due to differences over export of oil produced in the region.

He added that "the Council of Ministers will set a date to which the Ministry of finance to release salary and amounts assumed dispensing, subject to the cash available to the Iraqi State."

The Minister predicted that the budget will be approved d

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