Baghdad, June 17 (Rn) – The parliamentary Finance Committee, on Sunday, The continued decline in oil prices in world markets threaten to disable the implementation of many of the items approved in the general budget, which relied on the abundance of financial surplus from the sale of oil.
A member of the Church Committee Mustafa told the Kurdish news agency (Rn) that “if world oil prices dropped to less than the price calculated in the current year budget will threaten to halt the implementation of the items approved implementation depending on the availability of financial funds from the sale of oil.”
He explained that “oil prices will decline significantly on the overall federal budget and will increase the fiscal deficit.”
And witnessed the sale of oil prices in international markets represent a significant decline falling price of a barrel to $ 30 within a period of three months and the discount price of about $ 97 a barrel.
The Iraqi government approved on the fifth of December / December 2012 budget by $ 100 billion (about 117 trillion Iraqi dinars) and a deficit of up to $ 13.5 billion (about 17 trillion dinars).
It provides one of the items Iraq’s budget public in 2012 that “if the high price of oil to more than $ 85 a barrel, the amount of surplus of the budget is distributed to citizens, but the Ministry of Finance confirmed then that the accounts and the value of the deficit and the surplus will be seen after a month in June this month.