03/07/2012Finance Committee: turning the budget deficit from a chart to real
Baghdad, the Finance Committee in the Chamber of deputies that budget deficit this year, the deficit turned into a real deficit chart after falling oil prices in the world market.
Committee Member said Al Haytham (features & status of the Iraqi media network) "disability initially introduced in budget deficit chart when oil prices were higher than the prices billed the general budget but after the decline in world oil prices and access to less than set out in budget deficit turned into a real".
Jaburi said that "the budget built barrel b $85 and card export 2.6 million barrels per day, today the barrel down to $79 and the oil Ministry did not reach the threshold for specific export is 2.6 million barrels per day".
Oil prices have fallen nearly $ 30 per barrel during the past three months prices reached their lowest levels since, but moved OPEC exporting States to prompt the Organization to reduce its output ceiling to maintain prices.
House of representatives voted on the budget fiscal year (2012) by $ 100 billion dollars equivalent to b (117) trillion Iraqi dinars, and the fiscal deficit is estimated at 14 trillion dinars, based barrel b (85).
Iraq relies on a 97% coverage of the annual sale of oil balanced because many areas of industrial and agricultural productivity as inter impact highlighted by accumulation era before 2003.
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