Iraq: 2014 national budget to be presented for debate next month

Posted: August 20, 2013 in Iraqi Dinar/Politics
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08/20/2013 12:00 AM

Increase the volume of investment expenditures for the years coming three
Baghdad Farah pumice

The government placed the greatest attention within the strategy budgets of the next three years to revive the national economy of Iraq, expected to double revenues country to reach nearly 143 trillion dinars in the budget next year 2014 amounting to more than 157 trillion dinars, and the size of export oil up to 3.5 million barrels per day.

comes at a time which will raise the Finance Ministry draft budget bill for 2014 next month to the Council of Ministers in order to be considered and voted on.

Came expectations of the Finance Committee with getting a clear increase in the volume of investment expenditures for the years the next three as will those expenses 62 trillion dinars next year, and by more than 39 percent of the net budget allocations.

Counting specialists in economic affairs on the need to increase investment allocations in order to support and implement strategic projects, as well as emphasizing the importance of increasing the ports financing of budgets coming that can be achieved Thanks to rely on market economic policies, which stressed the Constitution to follow an approach economist of the country.

Committee member MP Magda Abdel-Latif al-Tamimi disclosed the “morning” the concentration of the budget next year on a number of important points, which stands in the forefront of installation contractors with the state, and increase the number of grades, noting that the strategy took into account the support of self-financing companies in the paragraphs that were included in the budgets of the next three years, especially centrally funded, including loss-making companies. And announced that a member of the strategic vision of the total revenue and expenditure for the year next three, indicating that the total revenue in the budget of the year 2014 equal to 143 trillion dinars, and expenses 157 trillion and 712 billion dinars, while the deficit amounts to 14 trillion and 681 billion, with estimated revenues of the budget year 2015 to 157 trillion and 285 billion, with a total expenditure of 168 trillion and 837 billion, a shortfall assessor equal to 11 trillion and 552 billion dinars.

Drew Tamimi that the total revenue in the budget of the year 2016 equals 188 trillion and 883 billion dinars, the size of the expenses estimated at 178 trillion and 316 billion dinars, and a deficit expected up to 10 trillion 567 billion dinars, noting that non-oil revenues will amount to 8 trillion and 970 billion dinars for the coming year 2014, with ستوازي 9 trillion 818 billion dinars for 2015, estimated at 10 trillion dinars and 774 billion in 2016, with the stability of dues region of the budget, which revealed its claims representation by province When preparing the budget.

Explained Tamimi said strategic budgets for the years coming three adopted on the price of 90 dollars per barrel of oil, and the size of export of 3.5 million barrels per day for 2014, and 3.85 million for 2015, while expected to total export volume in 2016, 4.00065 million thousand barrels, noting that the strategy adopted a fixed exchange rate of the dollar against the dinar at 1116, and based on previous years.

urged the member of the Commission on the need to go to private sector development, in order to convert a portion of the burden central to decentralized, and to ensure that workers in the private sector, in the form leads to lighten the burden of the state, revealing the amount of operational budgets and investment for the next three years, which she said: that the operational including $ 94 trillion and 887 billion dinars in 2014, and investment is equal to 62 trillion and 825 billion dinars, and the proportion of the investment budget of the total budget of up to 39.8 percent, while explained that the operating budget for 2015 is equal to 99 trillion and 729 billion dinars, and the investment is equal to 69 and 108 billion dinars, equivalent to 40.9 percent of the percentage of the operating budget for the total budget, while the estimated reach the operating budget in the year 2016 nearly 102 trillion and 26 billion dinars, and the investment of which is equal to 76 trillion and 290 billion, at a rate of 42.8 percent, the amount of the ratio of investment to the total budget.

As I mentioned Tamimi said its Committee will develop a vision for the strategic general budget of the year the next three, which focuses on increasing grades, and installation contractors with government departments .

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