Finance: The budget of 2019 approved the amount (55 - 60) dollars per barrel of oil

9/19/2018

The
Ministry of Finance revealed that the federal budget for the next year 2019 approved the amount of (55 - 60) dollars per barrel of oil and an export rate of up to four million barrels per day, including the source of the Kurdistan region, stressing the continuation of the payment of debt and the benefits of Iraq.

Undersecretary of the Ministry Dr. Maher Hammad Jouhan said a special statement for the "morning": The federal budget was prepared for the next year 2019, but not be stereotyped multi-directional, as the general situation of the country changed from the position it was for the past years and there is a great need to change or The various forms of financing,

both the general budget and other budgets, or the financing formulas, are supported by borrowing, entering into partnerships or finding outlets for the private sector.

He added that the current oil prices help to make these changes, as the budget to be submitted to the Council of Ministers, set the price of a barrel of oil exported between (55 - 60) dollars, giving the state a broader scope to strengthen services and social expenses such as salaries and expenses of education, health and medicine and expenses The ration card,

subsidies and social protection networks do not have a deficit either by allocating or financing and supporting the activities of projects that benefit the activity in the market, which activates the private sector in order to occupy its real space by providing job opportunities and infrastructure suitable for services or enhancing productive activities.

He pointed out that the federal budget adopted the amount of Iraqi oil exported daily between (3.8 - 4) million barrels, including the quantities exported from the Kurdistan region, and expressed the hope that the volume of this export, because Iraq currently exports only 3.8 million barrels and sometimes Less because of the different circumstances, especially the status of Kirkuk, which did not issue the prescribed amount.

He said that despite this, the rise in global oil prices helped to find the treatment of financing the deficit in the budget of up to 12.5 trillion dinars, which rose to 19 trillion dinars after the approval of the House of Representatives, explaining that the difference in prices helped to bridge the deficit, To external or internal borrowing, has returned to positive.

And on the debts of Iraq and whether there is a clause in the federal budget indicates that, the Undersecretary of the Ministry of Finance, there is an item of debt in the budget of 2018 and 2019, and there are debts of various denominations for the budget, both internal and external,

revealing that Iraq is currently paid within the table, 12 trillion dinars between The debts of the farmers have been paid for 2014, 2015, 2016 and 2017, denying the existence of any debt to farmers and contractors, and remained only 30 percent,

the ministry seeks to pay them by the beginning of next year , And It placed the text of the budget ensures the provision of appropriate allocation of funding.


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