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share of the Iraqi budget is witnessing an exceptional situation[/size]
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40 minutes ago
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share of the Iraqi budget is witnessing an exceptional situation[/size]
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40 minutes ago
After the vote of the Iraqi Council of Representatives, on Thursday, the budget of 2019, which constituted a rise of 45 percent from last year, including the re-quota of the Kurdistan Region, according to a new framework.
The budget amounted to 112 billion dollars and depends mainly on oil exports by 3.9 million barrels per day, including 250 thousand barrels produced in Iraqi Kurdistan, and estimated the price per barrel at $ 56, the price of this product globally now is $ 63.
Oil exports account for 89 percent of the budget deficit of $ 23 billion, double the budget deficit of 2018, and this year's investment in this year's budget is $ 27.8 billion.
The budget amounted to 112 billion dollars and depends mainly on oil exports by 3.9 million barrels per day, including 250 thousand barrels produced in Iraqi Kurdistan, and estimated the price per barrel at $ 56, the price of this product globally now is $ 63.
Oil exports account for 89 percent of the budget deficit of $ 23 billion, double the budget deficit of 2018, and this year's investment in this year's budget is $ 27.8 billion.
The budget includes the re-exchange of the share of the Kurdistan region, which was not received in the budget of 2018 and was estimated between 12.7 and 17 percent of them, in response to the referendum held by the province in October 2017, with the aim of independence from Iraq.
On the other hand, the central government will pay the salaries of Kurdish workers in 2019, including Peshmerga fighters, which has been the subject of controversy for years between Baghdad and Erbil.
Baghdad will pay the salaries for the first time in the event that the region exports its quota of 250 thousand barrels per day through Sumer (an institution of the Ministry of Oil in the central government responsible for the export of the country's oil), according to Sarkot Shamsuddin MP for "New Generation Movement".
The salaries of employees, retirees and social security amounted to $ 52 billion, an increase of 15 percent over last year.
Members of the House of Representatives, representing provinces devastated by the war against a terrorist organization in the north and west of the country, demanded more funds through the 2019 budget to rebuild their areas.
The chronic unemployment of youth twice more than the rest of the groups, and the deterioration of public services, have led to regular social movements in Iraq.
"This is the main challenge facing the government headed by Adel Abdul Mahdi, who was appointed in October, but has not yet finished forming his government," said economist Ali al-Mawlawi.
The budget law still needs to be approved by President Barham Saleh before it is published in the official gazette. In 2018, the parliament did not approve the budget of $ 77.5 billion, except in March of the same year.
On the other hand, the central government will pay the salaries of Kurdish workers in 2019, including Peshmerga fighters, which has been the subject of controversy for years between Baghdad and Erbil.
Baghdad will pay the salaries for the first time in the event that the region exports its quota of 250 thousand barrels per day through Sumer (an institution of the Ministry of Oil in the central government responsible for the export of the country's oil), according to Sarkot Shamsuddin MP for "New Generation Movement".
The salaries of employees, retirees and social security amounted to $ 52 billion, an increase of 15 percent over last year.
Members of the House of Representatives, representing provinces devastated by the war against a terrorist organization in the north and west of the country, demanded more funds through the 2019 budget to rebuild their areas.
The chronic unemployment of youth twice more than the rest of the groups, and the deterioration of public services, have led to regular social movements in Iraq.
"This is the main challenge facing the government headed by Adel Abdul Mahdi, who was appointed in October, but has not yet finished forming his government," said economist Ali al-Mawlawi.
The budget law still needs to be approved by President Barham Saleh before it is published in the official gazette. In 2018, the parliament did not approve the budget of $ 77.5 billion, except in March of the same year.
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