Major problems projected in 2014 budget; Delays expected

Posted: October 30, 2013 in Iraqi Dinar/Politics
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29 October 2013
Predicted Chairman of the Finance Committee in the House of Representatives Haider Abadi, the late arrival of the draft 2014 budget law to the Council to contain the problems in the financial structure, revealing that the discussions of the Ministerial Committee for examining the details of the ongoing budget.

He Abadi hoped the arrival of the budget to the House of Representatives before the holiday legislative and the end of the year, according to the constitution, likely delayed arrival and استغراقها in the discussions to the next year, which is unwelcome to overlap with the campaign because it will affect ordinary citizens and affect the activity of the state in general and enters bargains .

And preliminary figures indicate that the amount of the budget amounted to 174 trillion dinars, with a deficit of nearly 30 trillion dinars.

Ebadi said that “lack the revenue budget of the Kurdistan region, which is about a quarter of a million barrels this year, at least, pointing out that last year the province declined to export at a time take its full share of the budget amounting to 17 percent.”

And “The preliminary figures for the deficit estimated at 30 trillion dinars, an amount that huge can not be covered especially if the decline in oil prices, with continued export from Iraq because of expectations of a decline in the rate of global economic growth and thus reduced demand for oil and lower prices.”

He Abbadi that the Ministry of Finance did not pan out in the preparation of the draft budget because it is inflated and amounted to 174 trillion dinars, while the maximum figures were 154 trillion dinars, ie, that there are 20 trillion extra, as is known, the reduction in such cases is difficult because any party will not be satisfied by reducing allocations and therefore we will be in front of a large deficit.


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