Iraq’s oil revenues have increased to 84 trillion Iraqi dinars: Zebari

Iraqi finance minister Hoshyar Zebari said on Monday that Iraq’s oil revenues have increased to 84 trillion Iraqi dinars and he stressed that remaining gap of funds will be obtained from the retained funds and treasury transfers. For this, Ministry will provide the data during the budget 2014, which will include the revenues, taxes implantation, and number of different aspects to consider like implementation of taxes on services like electricity, hygiene, and water.

Zebari said in a press conference, “The deficit is because of number of reasons; Daash organization is one of the main reason for such deficit in the general budget of Iraqi state for the 2015, which amounts to 23 trillion Iraqi dinars. We are hoping to get this deficit to recover from the retained funds and other available sources.”

Zebari said, “we are in a difficult situation, not known why we are in a difficult situation, that’s the reason, we decided to impose the taxes on the basic sales, mobile phones, cars, internet, tickets, while our ministries to impose taxes on the water, hygiene, and electricity.”

Finance minister tried to explain that there are large economies, which rely on the taxes, and these taxes are on the basic sales, but this does not mean to the social welfare and staff salaries. He said finance ministry will provide a financial statement during the 2015 budget in 2014 to clear the revenue, which reached to the state treasury.

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