Budget to be Announced on 4th May?

Iraq NewsThe coming parliament meeting on Sunday, will decide whether the budget for 2014 approve or will be delayed again as usual. The Members of Parliament are fully confident that budget will be approved in the next meeting on 4th May 2014. Iraq knows that budget delay is not in the favor of Iraq and its economy as well. There are many departments that are still waiting for budget to issue the salaries to their staffs. The wealth ministry is not issuing the funds to many of departments due to lack of funds.

The tension between Baghdad and Kurdistan is the major obstacle in the approval of the budget. The oil dispute between both of the regions is destabilizing the country economy. If Baghdad and Kurdistan could not develop consideration between them so people will have to bear the ultimate loss, occurring by the result of this dispute. The Kurdistan is complaining about new rule introduced by Baghdad for the export of crude oil through Baghdad pipe lines. According to this rule Kurdistan will have to export 400,000 barrel oil per month and in the case of failure the 17% of the total budget of Kurdistan will be deducted. Kurdistan is not ready to accept it.

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