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Government: 103 trillion dinars 7102 budget
8/29/2016 0:00
[rtl]
BAGHDAD Shokran Fatlawi
discuss money and economists ways to search for new resources to supplement thegeneral budget, expressing concern about rising deficits as a result of the deterioration ofoil prices and its impact on the Iraqi economy, by addressing the negatives that REO.
Participants gather at the seminar organized by the progress of the Policy Institute development and attended the «morning» the importance of studying the reasons behind not to increase non - oil revenues , and develop solutions to them, in addition to knowledge of the plug , which relies on domestic borrowing taking into account thebenefit of farmland and reconsider the value of the dollar mechanisms let alone establish the necessary controls that limit drain economic resources
of the country.
read the budget Law , president of the institute d. Mehdi al - Hafez initiated asymposium titled «lights on the oil situation and the potential challenges» diagnosis ofnegative indicators caused by falling oil prices, stressing at the same time the need todiversify the financial resources based on taxes , customs duties and levying fees water and electricity and increase taxes online and mobile phones. He also noted Hafiz in his speech to the need to read the General budget Law in accordance with the visions that came in, in terms of the diversification of resources and improve the link by improving the relationship with the international Monetary Foreign funders of the state fund. He praised Hafiz on the issue of lowering estimates for the price of a barrel in the budget and calculated the amount of $ 35 a barrel to avoid problems caused by low oil prices in the future note that prices are currently ranging between 40-45 dollars. increase thevolume of production and financial advisor to Prime Minister Dr. The appearance ofMohammed Saleh , said: required to increase oil production volume by 400,000 barrels per day from 2016 production and to ensure that part of the funding equation difficult and roof of the proposed budget for the year 2017 amounting to 103 trillion Iraqi dinars by deficit jumped to 34 trillion dinars of 24 trillion dinars , what was it . Salih noted that oil revenues with the payment of licensing companies with what is left is not enough tomeet the employees ' salaries so the government resorted to plug of borrowing , which led to high domestic debt to 45 trillion dinars is expected to reach the end of this year to 51 trillion dinars. He that what has been paid by the oil companies to service contracts totaled $ 43 billion since 2011 to 2016 with revenues of $ 200 billion in order tomaintain production volumes which represents suffocation can either be imported from the local need for oil derivatives with high costs , or that are increasing the volume ofproduction , explaining , said total revenue for 2017 will amount to 70 trillion dinars of oil revenues 58 trillion dinars and other income 11 trillion and the price per barrel will be $ 35 and the amount of current expenditures 76 percent and investment 24 percent and the proportion of the deficit 32 percent and the percentage of coverage of 66 percent internal sources. glut the oil market , for his part , oil expert Fouad Qassem ruled Alamerastaadh oil prices recover any return prices to $ 80 a barrel until the year 2020 due to a glut in the oil market is estimated at 3 million barrels per day , pointing out that prices will fall during the winter season and rise slightly in the summer by the increase and decrease in satiety oil and speculation. He noted the Prince to the existence offactors that will keep prices low , including allowing Iran to increase its output, after thelifting of the embargo, as well as the possible return of Libya to export accompanying unwillingness of Saudi Arabia to cut production levels , let alone increase oil production rates of rock. eliminate the glut promised adoption price of $ 35 a barrel in the budget of2017 the good price that the prices range from $ 40-45, calling at the same time , thenew oil minister to the need to campaign ties aimed at persuading oil - producing countries to cut production by 7 percent to eliminate the glut of existing which would raise prices to around $ 80 a barrel during the short period of time.[/rtl]
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