20:45 - 2022-12-08
Today, Thursday, the Parliamentary Finance Committee expected the ratios of operational and investment spending in the 2023 budget and their total volume, and while it presented new expectations regarding the value of a barrel of oil, it warned against increasing the size of its estimate in the budget.
Committee member Mueen Al-Kadhimi said: "The price of a barrel of oil amounted to 45 dollars in the 2021 budget, and the Ministry of Finance suggested that the price of a barrel of oil in the 2023 budget be between (60 to 65) dollars."
He added, "The mechanism for calculating the budget is done by multiplying the price of a barrel of oil, which is 65 dollars, by the amount of daily Iraqi exports amounting to 3 million and 250 thousand barrels at the current exchange rate of 1450 dollars, so that the result is about 110 trillion dinars, in addition to other imports from communications, tax and customs." And taxation so that we reach 140 trillion dinars.
He pointed out that "65% of the budget will be operational, which includes salaries and consumption, and 35% of it will be for the investment side, such as ongoing, lagging, and new infrastructure projects."
And he continued, "The House of Representatives may give its opinion so that the price of a barrel of oil in the budget is acceptable without being affected when the price of oil falls," warning of "an overestimation of the price of a barrel of oil in the budget."
[You must be registered and logged in to see this link.]