Budget Act entered into force and by the Government

by **Rocky** Thu Jan 21, 2016 4:03 pm

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Budget Act entered into force and by the Government

by Rocky Thu Jan 21, 2016 4:03 pm

Budget Act entered into force and by the Government

Budget Act entered into force and by the Government
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2016 bids-01-21 at 14:52 (GMT)

Baghdad — the balance of news
Published facts, federal budget law of the Republic of Iraq for the fiscal year 2016, which was passed by the House and endorsed by the President and that means the budget entry into force and by the Government.

The Director General of Iraqi realities muhannad Al-etabi said in a statement received/balance of news copy, that "number (4394) ensure federal budget law of the Republic of Iraq for the fiscal year 2016",

stating that "the law was passed based on what was passed by the House in accordance with the provisions of item (I) of article 61, paragraph (thalthai of article 73 of the Constitution, approved by the President of the Republic."

He noted that "version included details of this law, estimated budget b 81 trillion 700 billion and 803 million and 138,000 dinars, with revenue from the export of crude oil based on the average price of $ 45 a barrel and average export capacity of 3.6 million barrels a day." end quote

The House of representatives approved its 16 December last, balancing the year 2016 a total expenditure of more than 105 trillion and 890 billion dinars with a deficit of 22.8%, where revenue totaled 81 trillion 700 billion dinars of which oil revenues constituted 69 trillion and 773 billion dinars and constitute 85.1% percent of total income,

while non-oil revenues more than 11 trillion and 927 billion dinars and constitute 13.6 percent% of total revenue.

And formed the current expenses (operating) salaries and other more than 80 trillion dinars and 76% (of the total 105 trillion dinars) whereas investment expenditures more than 25 trillion dinars and 23.8%.

And honest President Fouad Massoum budget Act III. completed 29/4

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