Reduction of 6 trillion dinars from the budget ceiling and the adoption of US $ 40 as the price for a barrel of oil

[yota691]

Reduction of 6 trillion dinars from the budget ceiling and the adoption of US $ 40 as the price for a barrel of oil

November 25, 2015

 

Our economy / Baghdad

Parliamentary Finance Committee announced the drafting of a parliamentary proposal to cut about 6 trillion dinars of the total expenses of the general budget for the new year 2016, and the adoption rate of $ 40 per barrel of oil.

He said committee member pros Hamadoun said in a statement seen by our economy news agency that "the Finance Committee has not yet been possible to reach the final ceiling to reduce the total allocations and expenditures of the general budget in 2016".

She noted that "the Committee's deliberations are still continuing to discuss the ministries and sectors and government institutions expenses."

She explained that "there are drafting an initial proposal to reduce the parliamentary about six trillion dinars of the total ceiling of the general budget by reducing capital expenditures and a portion of operating expenses."

She noted that "members of the parliamentary finance committee unanimously to adopt a price of $ 40 per barrel of oil in the budget to address the risk of falling prices on the world market rather than the price at which the law was adopted by the government of $ 45."

Hamadoun considered an MP for the coalition to Iraqi forces, "the federal public budget prepared by the Council of Ministers, digital only and not differ much from the budgets of previous years."

 

[TennesseeCherokee]

Great that they picked $40, Yota.....

Now, when, & I believe it will, that oil prices rise above $40, it will be a surplus for them.

It's always better to aim low and get more than to aim high and not make your mark.

[sandfly]

THANKS

[tlars brother]

Tennessee , you should use Brent crude as your oil price base--and the low for Brent has been 43.15  The current price is $45.48.  Not that they care over there about what I say, but I would stick with $45 as my budget price.  I understand what you are saying about shooting low,,,but many think this is about as low as she goes.

[Antietam]

Well, I'm paying $1.85 a gallon right now. That's a great price, no question about it. I believe all this is the result of American ingenuity in the fracking process in this country. The EP,A tried vainly, under obama's direction, to find something, anything, that would make fracking environmentally dangerous, but they couldn't find a thing, IF it's done correctly. Fracking made the US energy independent, and in my opinion is the sole reason we are paying such low gas prices. Others may disagree with me I'm sure. So I'm glad that the GOI has modified it's 2016 budget to a $40 a barrel price. It means we might benefit from these prices at the pump for quite a while yet, and it makes iraq live within a realistic revenue flow. That's the first step to economic improvement, and a revalue of their currency.

[calkid11]

Thank you Yota

[VIZIOIRAQI]

Great that they picked $40, Yota.....

Now, when, & I believe it will, that oil prices rise above $40, it will be a surplus for them.

It's always better to aim low and get more than to aim high and not make your mark.

I believe that will be a bottle neck for them for awhile yet , they are going for volume now to keep up on their loses. All that oil in tankers hasn't hit the Market just yet but is expected soon I believe right around the same time Iran's Tankers full of oil hit the market mid to end of December. Long story short this flood of oil in the market will bring oil down around 20 per barrel they say it might even get as low as 10.00 per barrel crashing oil business in North Dakota , Texas and a few other states creating job loss for thousands . Chance of a life time to buy in on oil at rock bottom prices and then I do believe it will then settle around 40 to 50 per barrel once they achieve their main goal !