Anger: the budget deficit this year and planned resources are low

Anger: the budget deficit this year and planned resources are low




Wednesday 12 March 2014
Alsumaria news/Baghdad
Head of Cabinet advisers thamir, Wednesday, the shortfall in balancing this year is real, and the expectation that the resources planned for this year, he noted that Iraq's Constitution does not permit increased spending.

Ghadhban said in an interview for "alsumaria news", "the balancing act the year 2014 which will reach 170 trillion dinars are burdened with expenses compared with imports, which would be a big deficit and a real event began as", predicting that "the resources planned for the current year are few."

He said that "the planned volume of total imports based on exporting a total of three million and 400,000 barrels per day at a price of 90 dollars per barrel while the price per barrel currently is higher than the planned 12 dollars, the oil Ministry last month was unable to achieve this rate depends on the commitment of the region to export 400,000 barrels, what makes us the real problem may not be the end of the year."

He said that "the Iraqi State begins each year with a large reserve and good money in Iraq as a primary stock fund, but this year was lower than previous years which used the high balance at the beginning of the year and to rounded amounts due to non-completion of the line ministries for their projects 100%," he said, adding that "the Constitution not permit increased spending of resources determines the level of expenditure."

And the anger that the House can propose reduction or redeployment between sections other than that it is supposed to go to reduce the budget to reduce the deficit ", pointing out that" there are fears of a shortfall of acceptable rates of up to 15% when the struggling ministries and provinces to reduce spending and to find additional resources for the development of different sectors but a shortfall of up to 35% is a real problem. "

The oil Ministry announced last October, that the budget for the year 2014 require export three million and 400 thousand barrels per day and $ 90 per barrel, adding that the Ministry will issue three million bpd while the territory promised to provide the remaining $ 400,000 barrels per day for export.

And the Council of Ministers approved the (January 15), on the draft general budget of the year 2014, and referred it to the Parliament for approval.

The House began, (28 January), the first reading of the general budget law for the year 2014 at its eighth legislative term for the fourth and last legislative year, headed by Parliament Speaker Osama Al-nujaifi and 191 seats, but failed to accomplish those reading, with the State of law Coalition accused the Kurds of obstructing the passage of the budget.

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