Iraqi budget provides citizens oil revenue sharing at $5 for every barrel produced, However GOI make find difficulty in paying

Posted: January 18, 2014 in Iraqi Dinar/Politics

Finance announces the allocation of five dollars for every barrel produced in the provinces of the budget and affirming the possibility of fully paid

Ministry of Finance announced the allocation of five dollars from each barrel of oil-producing provinces in the federal budget for the current year, afterthought inability to pay the amount at once.

The finance minister said the agency purity of net debt at a news conference today attended by the correspondent of the Euphrates {} “The law guarantees issued share of oil-producing provinces and gas law, a right to take it.”

And that “because of the pressure and the budget deficit for the current year has been allocated just one dollar for oil-producing provinces within the petro-dollar project that remains owed by the federal government four dollars and given advances in the event of local governments need money.”

He pointed out that the net “budget deficit for the current year amounted to {23} trillion dinars.”

The Cabinet had approved at its meeting on Wednesday on the budget bill for 2014, which amounted to about 150 billion dollars, while the House of Representatives recognizes the budget bill today.

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