FINANCIAL ADVISOR: DEFAULT BUDGET DEFICIT IN 2014
A member of the Finance Committee in the House of Representatives Abdul Amir al-Mayahi that “increasing the proportion of the investment budget, in addition to the presence of large sums of money spent on the budget Batch reason was the basis of a deficit in the general budget for the year 2014.”
But adviser in the Ministry of Finance Hilal Taan said, “The deficit in the Budget default as a result of estimating the price of oil to $ 80, and export a daily rate of three million barrels, “pointing to” the possibility of a surplus in the budget because of the expectations of the high price of oil and increase export. ”
drew an economist Abdul Rahman al-Mashhadani, in turn, that “the government’s desire to increase the proportion of the budget investment for the operational budget of 2014, will not lead to increase the value of the deficit, “expressing his surprise at the” government’s continued determine rates of disability within their annual budgets In contrast, there is a surplus in every year. ” The Ministry of Finance announced earlier that the budget of the year 2014 amounting to 174 trillion dinars, equivalent to roughly $ 150 billion, the budget, the highest in the history of Iraq.